Main navigation

Elon Musk and SHIB Whales Pushing Shiba Inu 15% Up, Here’s How

News
Mon, 10/18/2021 - 07:54
article image
Yuri Molchan
Elon Musk’s tweet is pushing Shiba Inu 15% up and recent analytics data has revealed another trigger behind the rise of SHIB aka “Dogecoin killer”
Elon Musk and SHIB Whales Pushing Shiba Inu 15% Up, Here’s How
Cover image via stock.adobe.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Read U.TODAY on
Google News
Contents

Elon Musk has published a tweet about what the community interpreted as “Shiba Inu to the moon”, triggering SHIB price increase. Besides, Santiment on-chain data provider has shared another key reason for the rise SHIB meme cryptocurrency 15 percent rise.

Musk sends SHIB price 15 percent up

Once again the chief of Tesla and SpaceX, eccentric centibillionaire Elon Musk has shown that he has still got it when it comes to pumping meme coins with his tweets.

Earlier today, the world-famous innovative entrepreneur published a tweet, in which he “drew” an animal with a soaring rocket, which the community said was a Shiba Inu dog and can be related either to Dogecoin or to its “killer” SHIB.

In the comment threads, some crypto community members posted SHIB charts, pointing out that the meme cryptocurrency has risen over 10 percent on that tweet of Musk. However, overall the coin rose by almost 15 percent.

The coin reached the $0.00002885 level earlier today.

Related
Bitcoin Price Prints Highest Weekly Close in History

Massive whale SHIB transfers are driving the price higher

Santiment data vendor’s analytics team has spread the word about a recent rise in the number of SHIB transactions worth $100,000 and carrying SHIB.

The company’s experts have stated that when these large transfers come in bunches, a coin’s price usually goes up.

As reported by U.Today over the weekend, etherscan detected multiple large transfers of Shiba Inu token, many were carrying as much as up to 100 million coins.

Several consecutive transfers, though, contained around 86 billion SHIB each. In total, they carried approximately 260 billion SHIB tokens.

As a reminder the previous recent price rally of Shiba Inu was also driven by large SHIB transfers made by whales. One of them bought 6 trillion SHIB in a single transfer and then added 276 billion tokens to it, buying three lumps of this meme crypto.

Petition to list SHIB on Robinhood gets almost 300,000 signatures

As reported by U.Today earlier, the petition that had been started on Change.org to ask for SHIB to be listed on the Robinhood trading app has closely approached its goal of 300,000 signatures. By Sunday, 250,000 people have signed it.

Last week, SHIB was listed on India’s oldest crypto exchange ZebPay and Turkey’s biggest exchange BtcTurk also announced its plans to list the coin.

Such crypto trading giants as eToro and Coinbase have already added support for SHIB trading.

article image
About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.