SHIB whale activity increases by 150%
Shiba Inu whale activity surges 150% in four days, signaling bullish momentum.
The Shiba Inu (SHIB) market is showing signs of renewed whale activity, with large transaction volumes surging over 150% in just four days, signaling renewed investor confidence in the second-largest meme coin by market cap.
According to data from IntoTheBlock, SHIB whales traded $17.28 million worth of tokens on March 2, which skyrocketed to $39.84 million by March 5—marking a seven-day high, reports Bitcoinist.
This sharp uptick comes after a prolonged market downtrend, during which whale activity had notably declined.
Bullish Indicators for SHIB
Industry observers are optimistic that the return of large-scale transactions could signal the beginning of a significant price surge for Shiba Inu. The increased “Concentration” metric from IntoTheBlock confirms that these whales are actively accumulating SHIB, a development that typically precedes major rallies.
Analysts believe that if the meme coin manages to reclaim the psychological $0.00002 level, it would validate the bullish outlook and possibly ignite a robust upward trend. The renewed accumulation is being closely watched, as sustained whale activity is often a harbinger of market recovery, especially in an asset class known for its volatility and rapid price movements.
Price Targets and Future Outlook
Crypto analyst Crypto ELITES recently outlined a series of price targets for SHIB, predicting that the token could rally as high as $0.000472905. According to the analyst, the sequential targets to watch are $0.000085171, $0.000183312, and ultimately $0.000472905.
In a similar vein, another market expert, Javon Marks, has forecast that SHIB could see gains of over 400%, with the price potentially reaching $0.000081 before paving the way to surpass previous all-time highs. At the time of writing, SHIB is trading at approximately $0.00001361, up more than 4% over the last 24 hours, reflecting the early signs of recovery.
As whale activity and technical indicators point toward a potential resurgence, the broader crypto community remains cautious yet hopeful that Shiba Inu’s renewed momentum could contribute to a significant rally in the coming weeks.
Recently we wrote, that broker Robinhood has added billions of Shiba Inu (SHIB) tokens to its holdings amid a sharp drop in the asset's value.
