{"id":527958,"date":"2023-04-21T16:00:53","date_gmt":"2023-04-21T16:00:53","guid":{"rendered":"https:\/\/uniquehot.com\/?p=527958"},"modified":"2024-06-11T07:51:20","modified_gmt":"2024-06-11T07:51:20","slug":"shiba-inu-whales-on-buying-spree-add-311-billion-tokens-during-price-dip","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/shiba-inu-coin\/shiba-inu-whales-on-buying-spree-add-311-billion-tokens-during-price-dip\/","title":{"rendered":"Shiba Inu Whales On Buying Spree, Add 311 Billion Tokens During Price Dip"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Whales have resumed their Shiba Inu buying spree as the meme coin price declined alongside the global crypto market. According to the WhaleStats <\/span><a href=\"https:\/\/twitter.com\/WhaleStats\/status\/02824449\" rel=\"nofollow\"><span style=\"font-weight: 400\">report<\/span><\/a><span style=\"font-weight: 400\">, a top ETH whale picked up $3.22 million worth of SHIB tokens over the past 24 hours.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The Ethereum whale performed the purchase in two transactions, scooping over 311 billion Siba Inu tokens within minutes.<\/span><\/p>\n<h2><b>Shiba Inu\u2019s Price Correction Attracts Top ETH Whales<\/b><\/h2>\n<p><span style=\"font-weight: 400\">Shiba Inu has been on the list of preferred assets among top Ethereum whales over the past few months. The whales actively packed large chunks of SHIB tokens between January and February. However, it appears the whales went on break, waiting for another opportunity to strike.<\/span><\/p>\n<p>Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/cardano\/cardano-in-strong-demand-zone-breaking-through-key-level-crucial\/\" target=\"_blank\" rel=\"noopener \">Cardano In Strong Demand Zone, Breaking Through Key Level Crucial<\/a><\/p>\n<p><span style=\"font-weight: 400\">A recent alert from the crypto tracking platform, WhaleStats, shows the 254<\/span><span style=\"font-weight: 400\">th<\/span><span style=\"font-weight: 400\">-biggest Ethereum whale purchased 311,998,734,794 SHIB tokens on April 20. The whale performed the transaction in two consecutive transactions.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The whale <\/span><a href=\"https:\/\/twitter.com\/WhaleStats\/status\/02824449\" rel=\"nofollow\"><span style=\"font-weight: 400\">bought 194,114,774,578<\/span><\/a><span style=\"font-weight: 400\"> Shiba Inu tokens worth $2,069,263 before initiating <\/span><a href=\"https:\/\/twitter.com\/WhaleStats\/status\/90444036\" rel=\"nofollow\"><span style=\"font-weight: 400\">another transaction<\/span><\/a><span style=\"font-weight: 400\"> for 117,883,216 SHIB worth $1,256,643. <\/span><span style=\"font-weight: 400\">The unexpected token accumulation comes as <\/span><span style=\"font-weight: 400\">Shiba Inu&#8217;s price<\/span><span style=\"font-weight: 400\"> fell from its critical support level at $0.0000107.<\/span><\/p>\n<figure id=\"attachment_527961\" aria-describedby=\"caption-attachment-527961\" style=\"width: 860px\" class=\"wp-caption alignnone\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-527961 size-large\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/04\/SHIBUSDT_2023-04-21_18-00-00.png?resize=860%2C501\" alt=\"Shiba Inu Whales On Buying Spree, Add 311 Billion Tokens During Price Dip\" width=\"860\" height=\"501\"><figcaption id=\"caption-attachment-527961\" class=\"wp-caption-text\">SHIB price is rising after a breakdown l <a href=\"https:\/\/www.tradingview.com\/x\/5KC7vTxi\/\" rel=\"nofollow\">SHIBUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n<h2><b>Shiba Inu Price Outlook Amid Burn Rate Spikes<\/b><\/h2>\n<p><span style=\"font-weight: 400\">The recent price decline comes after several days of massive SHIB token burn by the Shiba Inu community to boost the meme coin\u2019s price. In the days following the Shibarium PuppyNet launch, large chunks of Shiba Inu coins went into the dead wallets.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">On April 20, the Shiba Inu token <\/span><a href=\"https:\/\/twitter.com\/shibburn\/status\/77984771?\" rel=\"nofollow\"><span style=\"font-weight: 400\">burn rate<\/span><\/a><span style=\"font-weight: 400\"> spiked by 3,500%, according to the burn tracking website, Shibburn. Following Shibburn\u2019s <\/span><a href=\"https:\/\/twitter.com\/shibburn\/status\/30779656?\" rel=\"nofollow\"><span style=\"font-weight: 400\">hourly update<\/span><\/a><span style=\"font-weight: 400\">, April 20 saw another 5,180% burn rate spike.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/cardano-racks-up-nearly-4-gain-amid-short-term-losses-will-investors-hold-firm\/\" target=\"_blank\" rel=\"noopener \">Cardano Racks Up Nearly 4% Gain Amid Short-Term Losses \u2013 Will Investors Hold Firm?<\/a><\/div>\n<p><span style=\"font-weight: 400\">Given Shiba Inu\u2019s massive circulation supply of tokens, the recent burn had little effect on the meme coin&#8217;s price. The token traded bearishly yesterday, with a 7.0% price decline, and has continued in the downtrend today.<\/span><\/p>\n<p><span style=\"font-weight: 400\">SHIB is slightly recovering after forming three consecutive red candles on the daily chart. The bears have dominated the market, pushing SHIB close to its support zone.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Shiba Inu has dropped below its 50-day and 200-day <\/span><span style=\"font-weight: 400\">Simple Moving Averages (SMA)<\/span><span style=\"font-weight: 400\">, a bearish sentiment for the short and long term.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Also, the <\/span><span style=\"font-weight: 400\">Relative Strength Index (RSI)<\/span><span style=\"font-weight: 400\"> is 41.22, close to the oversold region of 30. The indicator is moving downwards, suggesting further decline for the asset.\u00a0<\/span><span style=\"font-weight: 400\">SHIB&#8217;s support levels are $0.0000085 and $0.0000102, with resistance levels at $0.0000115 and $0.0000112.<\/span><\/p>\n<p><span style=\"font-weight: 400\">SHIB is close to the $0.0000102 support level. If the level does not hold, expect further price decline from the asset in the coming days.<\/span><\/p>\n<p><span style=\"font-weight: 400\">At press time, Shiba Inu is trading at $0.00001061, and the price is rising after declining by 3.6%.<\/span><\/p>\n<p>Featured image from Pixabay and chart from Tradingview<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Whales have resumed their Shiba Inu buying spree as the meme coin price declined alongside the global crypto market. According to the WhaleStats report, a top ETH whale picked up $3.22 million worth of SHIB tokens over the past 24 hours. The Ethereum whale performed the purchase in two transactions, scooping over 311 billion Siba Inu tokens within minutes. Shiba Inu\u2019s Price Correction Attracts Top ETH Whales Shiba Inu has been on the list of preferred assets among top Ethereum whales over the past few months. The whales actively packed large chunks of SHIB tokens between January and February. However, it appears the whales went on break, waiting for another opportunity to strike. Related Reading: Cardano In Strong Demand Zone, Breaking Through Key Level Crucial A recent alert from the crypto tracking platform, WhaleStats, shows the 254th-biggest Ethereum whale purchased 311,998,734,794 SHIB tokens on April 20. The whale performed the transaction in two consecutive transactions. The whale bought 194,114,774,578 Shiba Inu tokens worth $2,069,263 before initiating another transaction for 117,883,216 SHIB worth $1,256,643. The unexpected token accumulation comes as Shiba Inu&#8217;s price fell from its critical support level at $0.0000107. Shiba Inu Price Outlook Amid Burn Rate Spikes The recent price decline comes after several days of massive SHIB token burn by the Shiba Inu community to boost the meme coin\u2019s price. In the days following the Shibarium PuppyNet launch, large chunks of Shiba Inu coins went into the dead wallets.\u00a0 On April 20, the Shiba Inu token burn rate spiked by 3,500%, according to the burn tracking website, Shibburn. Following Shibburn\u2019s hourly update, April 20 saw another 5,180% burn rate spike.\u00a0 Related Reading: Cardano Racks Up Nearly 4% Gain Amid Short-Term Losses \u2013 Will Investors Hold Firm? Given Shiba Inu\u2019s massive circulation supply of tokens, the recent burn had little effect on the meme coin&#8217;s price. The token traded bearishly yesterday, with a 7.0% price decline, and has continued in the downtrend today. SHIB is slightly recovering after forming three consecutive red candles on the daily chart. The bears have dominated the market, pushing SHIB close to its support zone. Shiba Inu has dropped below its 50-day and 200-day Simple Moving Averages (SMA), a bearish sentiment for the short and long term.\u00a0 Also, the Relative Strength Index (RSI) is 41.22, close to the oversold region of 30. The indicator is moving downwards, suggesting further decline for the asset.\u00a0SHIB&#8217;s support levels are $0.0000085 and $0.0000102, with resistance levels at $0.0000115 and $0.0000112. SHIB is close to the $0.0000102 support level. If the level does not hold, expect further price decline from the asset in the coming days. At press time, Shiba Inu is trading at $0.00001061, and the price is rising after declining by 3.6%. Featured image from Pixabay and chart from Tradingview<\/p>\n","protected":false},"author":584,"featured_media":520737,"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":[11679,6664,1946,84558],"class_list":["post-527958","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-shiba-inu-coin","tag-bull","tag-crypto","tag-ethereum","tag-shibusdt"],"acf":[],"yoast_head":"\n<title>Shiba Inu Whales On Buying Spree, Add 311 Billion Tokens During Price Dip<\/title>\n<meta name=\"description\" content=\"Whales have resumed their Shiba Inu buying spree as the meme coin price declined alongside the global crypto market. 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