Shiba Inu is predicted to see a massive surge soon. With a new green candle on the charts, the meme-coin is likely to make a run toward the next resistance soon.
The Shiba Inu saw a major “shopping activity” in a relatively short period of time. As can be seen on the 4-hours chart, the Shiba Inu is drawing a huge green candle after liftoff from the MA 50 at $0.0000122.
Most recently, WhaleStats multi-chain wallet tracker has disclosed that the largest Ethereum whales grabbed $8 million worth of the Shiba Inu meme coin over the past two days.
A few days before this accumulation, CNBC’s Jim Cramer warned investors against buying cryptocurrencies in general and SHIB and DOGE in particular.
Whale Purchases
Recently, a WhaleStats tweet mentioned that whales’ SHIB stash has gone up by a substantial $8,000,000, which is an equivalent of 643,086,816,720.
Last weekend, the top 500 wallets held a little over $147 million in the second largest canine coin. Now, they have $155,359,382 worth of SHIB!
Also, on Friday and Saturday, anonymous wallets moved massive amounts of SHIB. A mysterious whale bought 114,952,894,138 Shiba Inu and transferred it to Binance to sell it. This included three other large SHIB transactions made by different whales.
Whales wired a total of 281 billion SHIB on Saturday.
Jim Cramer’s Warnings
Last week, the host of CNBC’s Mad Money show – Jim Cramer, stated that investors should avoid putting their money in risky assets and should especially avoid cryptocurrencies. He added that people should not “get memed,” which has been interpreted as a warning against investing in meme-coins- Dogecoin and SHIB- as well as meme stocks.
Influencer David Gokhshtein agreed with Kramer’s views and added Twitter very.
In Fed Chairman Jerome Powell’s recent speech, he said that the central U.S. bank is going to stick to its hawkish stance and will continue with its tight monetary policy. Soon after this, Gokhshtein tweeted.
He also reminded CNBC viewers that Powell recommended: “To stop being stupid with our money.” Powell noted that dealing with inflation could cause “some pain” for American businesses and families.
Is Shiba Inu on the Rise?
SHIB is expected to make an upward move after it displayed a huge green candle, attempting to reach beyond the four-hour MA 200.
Nevertheless, the coin could not immediately break above the overhead barrier at $0.00001333 and bounce back below the 4-hours MA 200 at $0.00001295. SHIB is currently trading at $0.00001205 and is attempting to break this key level. According to data from CoinMarketCap, SHIB was down 4.35% over the past 24 hours at the time of publication.
