Shiba Inu Whales Acquire 400B SHIB Amid Dip

Shiba Inu whales have purchased approximately 400 billion SHIB, valued at around $10 million, amidst a notable price decline. This large acquisition indicates significant holder confidence despite the current market downturn. Market Commentator, Altcoin Analyst stated, “Despite the price decline, the confidence shown by large holders could indicate a recovery is on the horizon.”

The purchases by large SHIB holders, including a notable early investor, could suggest a long-term strategy to influence the market. This investor profited $108 million since the initial acquisition in 2020.

The transaction coincides with a drop of around 10% in SHIB’s price, linked to broader crypto market trends. However, this whale activity could signal potential recovery efforts as large holders accumulate more SHIB.

Market analysts project bullish outcomes if whale holdings lead to a reduction in sell pressure. Historical patterns show that large accumulations often precede price surges.

Despite the current downturn, some indicators show reduced exchange supply. This could lead to a potential supply squeeze, boosting prices if demand persists.

Insights from historical data indicate price boosts when burn rates increase. Recent on-chain data shows over 13 million SHIB burned recently, supporting a possible bullish scenario. Santiment, On-chain Analytics Service, noted, “Large-scale accumulation during consolidation phases often precedes explosive price moves.”