Shiba Inu (SHIB) whales have begun stocking up on SHIB tokens amid recent price struggles, hoping to spark a new rally for the token. The Shiba Inu (SHIB) ecosystem is a frequent headline-maker. The prominent meme coin network, despite being fairly new to the market, has managed to garner immense attention. When attention comes from whales though, it tends to spark investor interest in the token.
Recently, SHIB has suffered from a downturn in price. The asset is down 17% in the last 30 days, with the SHIB community hoping that 2025’s start isn’t a bad omen for the year. SHIB whales, however, are apparently taking the time to buy in on the recent dip. According to Crypto.com data seen from a crypto-market expert on X, a whale moved over 1.6 trillion Shiba Inu coin (SHIB) tokens worth about $39 million from Crypto.com to private wallets.
Such whale activity usually signals massive price action, and when the whales enter the market, they enter it to accumulate or buy to initiate accumulation phases. These transactions also indicate potential for a rally, something that SHIB is in desperate need of right now. The Shiba Inu network team is also looking to spark a light under SHIB price with a recent announcement.
The developers behind Shiba Inu surprised the market with the announcement of the much-awaited TREAT token. This brand-new token is expected to hit the market on January 14. “The new year begins with TREAT,” an announcement from the team reads. “The Wait is OVER, TREAT is launching this January. Let’s kick off 2025 with a bang!”
Also Read: Shiba Inu: New Price Forecast Claims SHIB To Breach $0.000066651
Shiba Inu Whale to Spark Rebound After Rough Start to 2025?
The cryptocurrency market has high expectations for Shiba Inu (SHIB) and the rest of the market in 2025. The community has been waiting for the meme coin to reach the coveted 1-cent mark or reclaim its all-time high, at the least. But SHIB is moving rather slowly, still trading over 70% under that ATH. Despite the increased utility and efforts from the Shiba Inu network and whales, the meme coin seems to be moving rather slowly in terms of price.
The latest whale movement has barely ticked Shiba Inu’s price upwards. The coin is up less than a percent in the last 24 hours at the time of writing. The market cap of Shiba Inu coin at $12.78 billion is down 8.75%, which is similar to the price. Fortunately, its trading volume has gone up 78.87% to $867.4 million.
This increased volume could result from increased market activity and interest by traders and investors reacting to the whale transfer and speculating about the token’s next move. Therefore, the latest whale movement could provide the needed spark SHIB needs to get off the ground in 2025.
Credit: Source link
