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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
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  • 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.

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