Shiba INU, one of the most popular crypto assets is speculated to be at the foothill of a massive explosion. On the other hand, a decline in the trading volume flashes a bearish reversal, and some market experts believe, a recovery phase to begin very soon. As the popular Memcoin yielded 50% gains to holders this week, a notable rise is believed to be fast approaching.
While the top 1000 whales have been constantly accumulating Shiba INU, and now have become the largest non-ERC 20 token held by them. Moreover, in the past couple of weeks, large wallet investor
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Followers : 0 View profile on ETH Chain intensified their SHIB holdings by accumulating the asset at the dip. The whale’s wallets currently hold $1.89 billion worth of SHIB which makes up more than 5% of their entire holdings.
Therefore, despite the current consolidation, SHIB price is expected to ignite a significant upswing soon.
On the other hand, the Shiba INU burning has intensified as more than 16 million SHIB have been burnt overnight. Therefore, raising the expectations of a Shiba INU price rally ahead, as a total of 410.37 trillion SHIB has already been burnt till now. However, the recent drop in the momentum that led to a drop in the price is believed to be stabilized soon, kick-starting the SHIB price rally in the coming days.
Presently, Shiba INU’s price is hovering around $0.00001543 with a drop of 4.2% compared to the previous day’s close. The market capitalization has also dropped significantly, while the trading volume has slashed by more than 33%.
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