Big players are buying trillions of SHIB quietly, while taking money out from Coinbase as exchange reserves are going down fast.
This weekend, some big crypto investors, called whales, moved a huge amount of Shiba Inu tokens. On Friday, WhaleAlert showed that one whale sold 3 trillion SHIB coins, worth around 38 million dollars, on Ethereum chain.
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Whales Back SHIB Accumulation Mode
One big investor took out 3 trillion SHIB from Coinbase and moved it to his own wallet on Ethereum. This shows he wants to keep it safe for long time, not sell it quickly on exchanges.
Right now, that wallet still has the full 3 trillion SHIB, worth about 38 million dollars, and it is 100% of his balance. If other SHIB whales also do the same, the SHIB community can hope for the price to go up.
Exchange reserves are also going down fast, from 140 trillion to 85.6 trillion. This shows many SHIB holders prefer to keep their coins outside exchanges, because they trust in SHIB’s own decentralized system, which is also linked with Shibarium Layer-2.
What Stops SHIB Price From HittingTarget?
The current whale activity charts are showing mixed signals. According to the 4-hour SHIB price chart on TradingView, the next big target price is $0.00001773. But SHIB will have to make a much stronger move to reach this level.
The Chaikin Money Flow (CMF) indicator turned positive this weekend, which shows that large holders are considering the price of $0.000013 as a buying point. This happened when SHIB broke the important level of $0.000014 on August 14.
It is this strong whale buying that caused SHIB’s exchange reserves to fall to 85.6 trillion. But this does not mean that the bulls are in complete control. Daily trading volume is still slow and the Bull Bear Power indicator is looking slightly towards the bearish side.
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People Also Ask:
What happened with the 3T SHIB buy?
A big investor bought 3 trillion SHIB from Coinbase, which people are guessing what his plan is.
Is this only one buy or part of a trend?
This does not seem to be just a buy. The CMF indicator has turned 0.06 positive today, which shows that the mood of whales is bullish and they are collecting more SHIB.
Why are whales buying SHIB now?
Whales feel that the future of SHIB can be strong. Due to Shibarium upgrades and market optimism, they are buying now, so that later they get profit.
What does this mean for SHIB price?
Such big buys increase demand and can take the price up in a short time. If whales continue buying, the price can go to $0.00001773 or even higher.
Should you buy SHIB now?
Don’t rush. Whale moves are positive but crypto is risky. Do proper research, watch the market trend and take expert advice and then decide.
