Featured image from Mike Doherty \/ Unsplash, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"
The Shiba Inu price is currently trading in a downtrend channel, which has probably formed due to various reasons. While Bitcoin was able to expand its dominance in the crypto market to almost 46% in recent weeks, most altcoins are struggling. On top of that, the Shiba Inu community has been dealing with several major challenges lately. On the one hand, the beta launch of Shibarium was delayed, which has cooled down the hype around the project, and on the other hand, there have been numerous rumors about chaos within the Shibarium developer group and alleged plagiarism accusations. SHIB Whales On A Buying Spree All of this has not been very beneficial for the price recently. Nevertheless, two of the biggest Ethereum whales demonstrated their confidence in a rising SHIB price yesterday and took the opportunity to buy the dip. As reported by on-chain data analytics service WhaleStats, two high-profile ETH whales spent a combined $10.89 million on SHIB yesterday. According to WhaleStats, the first transaction was made by “Kvothe,” the 232nd largest ETH whale, who bought 899.99 billion worth of SHIB in a single transaction worth $9.61 million. Shortly after, the 254th largest ETH whale aka “BlueWhale0073” purchased 122.04 billion SHIB worth $1.28 million, as per transaction data on Etherscan. Related Reading: Shiba Inu Sees Outflow Of $270 Million From Crypto.com, Bullish Sign? In general, Ethereum whales are still extremely bullish on the Shiba Inu token, according to the data from the provider. Behind the two stablecoins USDC and USDT, SHIB is still the most popular altcoin among ETH whales. The top 500 ETH whales collectively hodl SHIB worth $606 million, followed by MATIC ($166.8 million), BEST ($155.9 million), and Chainlink ($146.4 million). In total, SHIB accounts for a whopping 10% of the holdings of the 500 largest ETH whales. Shiba Inu Price Needs To Recapture This Level At press time, the SHIB price stood at $0.00001060 and remained in the downtrend channel that formed in early February. So far, Shiba Inu has not managed to break out of the channel, which would currently require a move above $0.000011. Related Reading: Shiba Inu Price Sits At Inflection Point As SHIB Burns Pick Up Again However, to confirm a reversal of the price trend, SHIB needs to break the 200-day Exponential Moving Average (EMA). In mid-January, SHIB bulls managed to cross above this line, which is used to indicate the long-term trend. The SHIB price broke the 200-day EMA to the downside on March 3 and has since failed to regain it. Currently, the 200-day EMA sits at $0.00001171 and can be identified as the most important level to confirm a breakout from the descending trend channel and a trend reversal. Featured image from Mike Doherty \/ Unsplash, chart from TradingView.com<\/p>\n","protected":false},"author":571,"featured_media":523934,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[92559],"tags":[83668,83667,87680],"class_list":["post-523930","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-shiba-inu-coin","tag-shib","tag-shiba-inu","tag-shibarium"],"acf":[],"yoast_head":"\n
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Through his extensive work with uniquehot.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field. His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone. With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake\u2019s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage. Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control. For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality. As a journalist, Jake\u2019s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies. In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it\u2019s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake\u2019s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time. You can engage with his latest takes on Twitter: @realJakeSimmons.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/realJakeSimmons"],"url":"https:\/\/uniquehot.com\/author\/marcusmisiak\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Shiba Inu Whales On Buying Spree, But SHIB Needs To Conquer This Price","url":"http:\/\/uniquehot.com\/news\/shiba-inu-coin\/shiba-inu-whales-buying-spree-shib-conquer-this-price\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/shiba-inu-coin\/shiba-inu-whales-buying-spree-shib-conquer-this-price\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/03\/mike-doherty-JRsl_wfC-9A-unsplash-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/03\/mike-doherty-JRsl_wfC-9A-unsplash-scaled.jpg?fit=2560%2C1707"},"articleSection":"Shiba Inu Coin","author":[{"@type":"Person","name":"Jake Simmons"}],"creator":["Jake Simmons"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["shib","shiba inu","shibarium"],"dateCreated":"2023-03-21T11:27:15Z","datePublished":"2023-03-21T11:27:15Z","dateModified":"2024-06-11T07:51:17Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Shiba Inu Whales On Buying Spree, But SHIB Needs To Conquer This Price\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/shiba-inu-coin\\\/shiba-inu-whales-buying-spree-shib-conquer-this-price\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/shiba-inu-coin\\\/shiba-inu-whales-buying-spree-shib-conquer-this-price\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/03\\\/mike-doherty-JRsl_wfC-9A-unsplash-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/03\\\/mike-doherty-JRsl_wfC-9A-unsplash-scaled.jpg?fit=2560%2C1707\"},\"articleSection\":\"Shiba Inu Coin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Jake Simmons\"}],\"creator\":[\"Jake Simmons\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"shib\",\"shiba inu\",\"shibarium\"],\"dateCreated\":\"2023-03-21T11:27:15Z\",\"datePublished\":\"2023-03-21T11:27:15Z\",\"dateModified\":\"2024-06-11T07:51:17Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/03\/mike-doherty-JRsl_wfC-9A-unsplash-scaled.jpg?fit=2560%2C1707","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/523930"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/571"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=523930"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/523930\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/523934"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=523930"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=523930"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=523930"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"Shiba](\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/03\/Frua3WhWwAA6KHO.png?resize=850%2C450\")
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