In a surprising move, a whale purchased 445 billion Shiba Inu (SHIB) coins at the price of $0.000027 from the Robinhood trading platform. This significant transaction has sparked optimism about SHIB’s future price recovery.
According to Whale Alert, the unknown wallet 0x66E0 now holds 527.37 billion SHIB tokens, worth $13.76 million. The same wallet also contains Chainlink (LINK), Uniswap (UNI), and Matic (MATIC). Recently, the Shiba Inu burn rate increased by 119.40%, burning 3.36 million SHIB.
SHIB’s price fell 4.59% in the past 24 hours, trading at $0.0000264. Despite short-term losses, the whale’s accumulation suggests potential long-term gains. Increased token burning and market interest might drive SHIB’s price up. Additionally, a spike in SHIB’s Futures Open Interest (OI) signifies growing investor confidence. The RSI around 55 indicates slight upward pressure.
Notably, TRON founder Justin Sun moved 16.5 billion SHIB, hinting at strategic moves. Overall, whale activities and rising interest may pave a bullish path for Shiba Inu.
