The Price Stays Flat as SHIB Whales Are Making Moves
By the end of September, the Shiba Inu (SHIB) coin’s price was still steady at about $0.0000118. Additionally, the graphic does not present a particularly encouraging image of meaningful movement. Many retail traders are treating SHIB as trash rather than as a desirable asset to trade after months of lower highs and decreasing liquidity. However, whales are the ones that start working behind the scenes when the market is quiet, and that is precisely what has happened with the well-known meme coin during the past day.
Unidentified Whale Shifts 139B SHIB: Is a Massive Price Rally Ahead?
According to recently released blockchain data, 41,958,447,274 SHIB was taken out of Coinbase by an unidentified wallet. At today’s price, this comes to about $502,240. Another 97,192,000,000 SHIB, or $1,150,000, was added to the same wallet a few hours later. The sum of the two transactions was 139,150,244,953 SHIB, or around $1,636,406.
SHIB has dropped almost 70% from its December 2024 levels at $0.00004 on the chart. The value of this wallet would increase from $1.64 million to roughly $2.5 to $2.7 million if it returned to the mid-December range of $0.000018 to $0.000020. If the wager is successful, there may be a profit of more than $1 million.
SHIB Accumulation by Whales Points to Big Q4 Opportunities
Whales are hoarding hundreds of billions of tokens, at one of the lowest levels of the year, despite the claims of some that SHIB is worthless. The stockpiling indicates that someone is preparing for a recovery that might continue into Q4, converting the trash levels of today into the profit opportunity of tomorrow.
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