Ethereum whales continue to scoop up the meme token, accumulating $3.6 million worth of Shiba Inu (SHIB). According to analysts, with Shiba launching its own blockchain, it may become more popular with traders. Interestingly, some altcoin analysts think this roadmap could trigger a 100% rally. Details Cryptocoin. com
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Huge altcoin whale buys million-dollar SHIB
Ethereum whale “Gimli” bought 110 billion Shiba Inu tokens to grow their current portfolio. The whale’s purchase was valued at $3.62 million at the time, marking an increase in demand for Shiba Inu from major purses. Nicknamed “Gimli,” the whale currently has $47.8 million worth of Shiba Inu in its portfolio. Recently, SHIB announced that it will switch to its own Blockchain in its 2022 roadmap and will be converted to the DAO structure. Therefore, Shiba Inu’s plan becomes lucrative for investors seeking a Blockchain token with high utility and whale adoption.
Analysts confirm support zone for Shiba Inu
FXStreet analyst Ekta Mourya and her team are of the opinion that the price of the Shiba Inu could rise even higher. Analysts are predicting a 100% bullish breakout in the Shiba Inu price as the meme token has survived the recent price drop. Twitter crypto analysts also evaluated the Shiba Inu price trend and noted that it is positioning it in a new support zone. Army_shiba tweeted that previous resistance lines are now support for the Shiba Inu:
Both SHIB and BTC have positioned themselves in new support zones! These lines were old resistances! Let’s see what the market will bring after this exhausting accumulation phase!