- Whales have continued to add SHIB to their portfolio.
- Buying pressure increased, leading SHIB to neutralize sellers’ presence.
- If buyers get more aggressive and the CVD turns positive, SHIB may hit $0.000011.
Over the last few days, Shiba Inu (SHIB) has had the attention of whales on lockdown, Lookonchain revealed. According to Lookonchain, another whale bought SHIB worth $1.38 million on January 11.
This came after Coin Edition recently reported that the Shiba Inu token was one of the cryptocurrencies involved in a large buying spree. However, Lookonchain noted that four whales, including Tron (TRX) founder Justin Sun, have also bought SHIB in the last 30 days.
The on-chain tracking handle, noted in the post above, has 577 billion SHIB. Another one of the addresses accumulated 136.86 billion.
SHIB Tries to Match BTC and ETH
Large buys like this usually have a positive impact on a cryptocurrency’s value. Interestingly, SHIB seems to be reaping the gains of the accumulation. Following the accumulation, the price of SHIB has been making moves to match Bitcoin (BTC) and Ethereum’s (ETH) performance since the new year began.
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