Investing.com - Financial Markets Worldwide
👀 Watchlist Winners: Copy Legendary Investors' Portfolios in One ClickSee Undervalued Stocks

Whale Transactions and Influencer Hype Fuel Shiba Inu’s Recent Rally

Published 05/30/2024, 03:00 AM
Updated 05/30/2024, 03:45 AM
Whale Transactions and Influencer Hype Fuel Shiba Inu’s Recent Rally
SHIB/USD
-

  • Shiba Inu (SHIB) has surged 11% in the past 24 hours.

  • Significant whale transactions are driving SHIB’s price surge.

  • Prominent crypto educator Davinci Jeremie continues to express confidence in SHIB.

Shiba Inu’s (SHIB) market trend has been positive year-to-date, with its current price levels matching those of early April. SHIB has risen 11% over the past intraday session, trading at $0.00002881. This figure represents a 7% weekly rally and a 17% increase month-to-date.

Shiba Inu’s rally is potentially influenced by several factors, including speculation about whale investors, who are reportedly focusing on Shiba Inu and Pepe (PEPE).

Lookonchain previously highlighted a whale movement from PEPE to SHIB. This whale investor initially held 1.97 trillion PEPE tokens, valued at over $6.07 million. After depositing them into Binance, the trader reportedly realized a profit of $3.49 million.

The post Whale Transactions and Influencer Hype Fuel Shiba Inu’s Recent Rally appeared first on Coin Edition.

Read more on Coin Edition

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.