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Whales Hoover up 14.6 Trillion SHIB Tokens — What Do They Know That We Don't?

Wed, 09/06/2023 - 10:28
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Arman Shirinyan
Meme token whales piling up more SHIB tokens, awaiting potential recovery
Whales Hoover up 14.6 Trillion SHIB Tokens — What Do They Know That We Don't?
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The Shiba Inu (SHIB) ecosystem is buzzing, and it is not just the retail investors who are getting in on the action. Whales, or large holders, have been quietly accumulating a staggering 14.6 trillion SHIB tokens since the dawn of September. The net flow is overwhelmingly positive, with trillions of SHIB tokens finding their way into the deep pockets of these crypto giants.

Now, you might be wondering, what is fueling this whale of an appetite for SHIB? Unfortunately, the answer is not straightforward, but it is worth noting that the trading volume of SHIB has been relatively low. This could indicate that the whales see an opportunity that the rest of the market is missing and accumulate more SHIB.

Source: IntoTheBlock

So, what is the price doing amid this feeding frenzy? As of the latest crypto market data, the SHIB token is trading at approximately $0.00000767. While this might seem minuscule to the untrained eye, it is the volume that tells the real story.

But let's not get sidetracked. The question that is probably gnawing at your mind is: why are whales hoarding SHIB tokens? Do they have some insider information that the rest of retail investors have never heard of? While we cannot say for sure, what we do know is that when whales move, they often create ripples (or tsunamis) that affect the entire market.

The trading volume for SHIB has been fluctuating, but it is not hitting rock bottom. This could signify that the market is still active, and there is potential for a price surge.

The net positive inflow of SHIB tokens into whale wallets could be a precursor to something big. It is like the calm before the storm — a storm that could either skyrocket SHIB to new heights or plunge it to new lows.

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About the author

Arman Shirinyan is a trader, crypto enthusiast and SMM expert with more than four years of experience.

Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future. Currently, he focuses on news, articles with deep analysis of crypto projects and technical analysis of cryptocurrency trading pairs.