In a striking display of confidence, a prominent Shiba Inu (SHIB) whale recently acquired 257.5 billion SHIB tokens at market lows, spending an impressive $4.6 million. According to blockchain analytics platform Lookonchain, this strategic move increased the whale’s holdings to a staggering 477.5 billion SHIB, now valued at $8.57 million.
The timing of this purchase highlights the investor’s intent to capitalize on SHIB’s declining price, betting on a potential future rally. On-chain data indicates that such acquisitions often reflect long-term optimism, with buyers aiming to profit from eventual market recoveries. A recent technical analysis even suggests a possible 62% price surge for SHIB, driven by a bullish “cup and handle” chart pattern, fueling further speculation among investors.
After the market dropped, this whale accumulated another 257.5B $SHIB($4.6M).
— Lookonchain (@lookonchain) January 27, 2025
This whale currently holds 477.5B $SHIB($8.57M).https://t.co/k75VUmJZRh pic.twitter.com/xu5GYKZBcN
Trading Volume Surges Despite Price Dip
Although SHIB experienced a 2% price drop, its 24-hour trading volume spiked by an astonishing 269%, reaching $640 million. This increased activity underscores growing investor interest as SHIB’s price fluctuates between $0.00001743 and $0.00001997. The heightened trading volume suggests that market participants are repositioning their portfolios in anticipation of upcoming developments within the Shiba Inu ecosystem.
Shytoshi Kusama Hints at Major Updates
Adding to the buzz, Shytoshi Kusama, Shiba Inu’s lead developer, teased a groundbreaking ecosystem update. The announcement aligns with ongoing initiatives like Shibarium, ShibaSwap, and new token offerings such as Bone, Leash, and Treat. These projects aim to elevate Shiba Inu beyond its meme coin origins, establishing it as a comprehensive Web3 platform.
Time for rest. Spaces tomorrow, Shib, Bone, Leash & Treat (ShibOS) PR preparation notches up in preparation for our groundbreaking news (now approved), and I will issue a challenge to that Shy CTO to see if they can execute. Going to be a busy day. See you then.
— Shytoshi Kusama™ (@ShytoshiKusama) January 27, 2025
Further bolstering market sentiment, Shiba Inu’s burn rate surged by 800%, with 6.27 million SHIB tokens recently destroyed. This permanent reduction in circulating supply supports the token’s recovery narrative, as reduced supply coupled with increased demand could drive prices higher.
Also Read: Shiba Inu Burn Rate Soars 1000%, Sparks Bullish Optimism for SHIB Price Surge
The combination of whale activity, heightened trading volume, and ecosystem advancements paints a promising picture for SHIB. Despite current price dips, the Shiba Inu community remains optimistic, awaiting what could be the next big leap for the popular token.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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