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Title: 2.4 Trillion Shiba Inu (SHIB) in 24 Hours: Are Whales Bullish?
In a remarkable turn of events, the past 24 hours have seen an astonishing influx of capital into the SHIB market, with a staggering 2.4 trillion units being traded. As we dive deeper into the data, it becomes increasingly clear that this surge is not just a fleeting phenomenon but rather a harbinger of significant price action to come.
As can be seen in the chart below, SHIB has been stuck in a narrow range around $0.000028 for quite some time now, indicating a strong accumulation phase. It’s essential to consider this data in context as it suggests that major investors in the Shiba Inu token are actively accumulating the token at an increasing rate.
What does this mean for the future of SHIB?
It is not difficult to predict where the price will go from here: I am sure you agree with me, but there’s only one direction in which the price can move – upwards. The question now becomes when it will happen and what kind of magnitude we are talking about.
I want to emphasize that this accumulation phase indicates that whales are actively accumulating SHIB, indicating that the majority of traders believe there is significant upside potential in the cryptocurrency market.
The reason why I am more optimistic than most people is that the data suggests that major investors are not only accumulating but also increasing their rate of acquisition.
Source: u.today
