- Whales have been buying a lot of Shiba Inu (SHIB) and keeping it in their own addresses instead of on exchanges for the past two months. This shows that big investors believe in the coin’s potential for the future.
- Technical indicators show that a lot of money is constantly being invested in Shiba Inu, while other meme coins are not getting attention from big investors.
Shiba Inu has not been moving up or down much since the start of the year. It has only gone up by 1. 18% in the last four weeks. However, the decrease in price changes in the market seems to be good for big investors who have been buying a lot of SHIB. In the last two months, some big holders of Shiba Inu coins have collected more than 4 trillion tokens and have stopped selling as much because they believe in the future success of the coin.
At the moment, SHIB is selling for $0. 000009172, which is 3. 8% more than yesterday. The price has stayed about the same for the past month, only going up or down by 1%.
Many rich investors are buying a lot of SHIB because it has been increasing for a long time. Since the middle of December, big SHIB coin holders have increased their amount from 493. 42 trillion to 497. 11 trillion, according to Santiment data.
The whales have taken a lot of SHIB tokens from the exchanges, and the amount left on exchanges has dropped a lot since December 1st. More tokens being added to exchange wallets means that people are getting ready to sell their tokens, while the opposite is also true.
The number of tokens held in exchanges went down, but the trading volume went up a lot today, almost doubling to reach $146 million.
Earlier this week, some big investors in a cryptocurrency called Shiba Inu moved a lot of tokens from popular exchanges to unknown places really fast. This made the trading activity for this cryptocurrency go up by 514%.
Large investors are very interested in Shiba Inu, while they are not so interested in Dogecoin. According to CNF, Dogecoin gained over 400,000 new wallets in just two weeks. However, most of these new accounts only had less than 10 DOGE, and the balance of the big investors didn’t change much during that time.
What will happen next for SHIB.
The whales are helping SHIB a lot, and the whole community is also doing their part. One data platform says that there has been a lot more activity on the Shibarium network in the last few days. On February 7, the number of new accounts on the Layer 2 network increased by a huge 621%, bringing the total number of accounts to over 63,300. There are now 1. 35 million different addresses and over 338 million transactions.
The increase in the use of Shbarium is very important if Shiba Inu wants to become more than just a coin based on internet jokes. Dogecoin has not made much progress in getting more people to use it, and it has been depending on Elon Musk’s support for charitable causes. But even that is not working as well as before, because big investors aren’t very interested in it.
Shibarium can help Shiba Inu become a big ecosystem with its own apps, finance platforms, digital art, trading platforms and more.