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Half Trillion Shiba Inu (SHIB) Moved by Anonymous Whales: Are They Connected?

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Sun, 24/03/2024 - 12:17
Half Trillion Shiba Inu (SHIB) Moved by Anonymous Whales: Are They Connected?
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Anonymous whales have shifted a staggering half trillion Shiba Inu tokens in the last 24 hours. What is the plan, and are these whales somehow connected to each other? Transactions data will hopefully help us out here.

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Taking a look at the details, it seems a few key players are moving SHIB between wallets and exchanges. For instance, 77.18 billion SHIB were transferred to a Coinbase wallet, while another 205 billion made their way to and from different wallets, including a major 53.06 billion SHIB to Robinhood's wallet. Are these transactions connected? It's hard to say, but they sure seem coordinated.

SHIBUSDT
SHIB/USDT Chart by TradingView

Now, turning to SHIB's price performance, we see it has been on a roller coaster. Currently, SHIB is hovering around the $0.000027 mark. After a major uptick, SHIB is experiencing what looks like a slight pullback. The key support level right now is sitting near $0.000019, a floor it has managed to stay above recently. If it can maintain this level, there is room for cautious optimism.

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As for resistance, SHIB faces a hurdle at around the $0.000030 level. If it can break through that ceiling, we could witness another growth phase, possibly aiming for highs not seen since the last peak.

Looking ahead, if SHIB can leverage its recent movements and the market regains its bullish stance, we might see these anonymous whale activities as the prelude to a price surge. With the market seeming to be on the cusp of recovery after being down for a couple of weeks, SHIB could benefit and possibly see an uptrend.

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