The Shiba Inu (SHIB) ecosystem is humming, and not just small-scale investors are participating. Since the beginning of September, whales, or significant investors, have been stealthily acquiring a startling 14.6 trillion SHIB tokens. With trillions of SHIB tokens making their way into these crypto industry heavyweights’ vast coffers, the net flow is extremely good.
What is feeding this whale of a hunger for SHIB, you may be thinking now? Although the solution is unfortunately not simple, it is important to note that SHIB trade volume has been quite low. This may mean that the whales are acquiring more SHIB because they recognise an opportunity that the rest of the market is missing.
So what’s going on with the pricing during this feeding frenzy? According to the most recent cryptocurrency market statistics, the SHIB token is now selling at around $0.00000767. To the untrained eye, this can appear little, yet the volume is what really matters.
But let’s not go off course. Why are whales accumulating SHIB tokens is certainly the question on your mind. Do they possess any insider knowledge that the other retail investors lack? While we can’t be certain, we do know that when whales migrate, they frequently cause waves (or tsunamis) that have an impact on the entire market.
Although it has been changing, the trading volume for SHIB is not at an all-time low. This may indicate that there is still possibility for a price increase and that the market is still active.
The net positive SHIB token influx into whale wallets may be the beginning of something significant. It is comparable to the calm before a storm that might either catapult SHIB to new heights or send it down to new lows.
