Despite Bullish trend, Top ETH Whale Adds 120B SHIB

Concerns as Smart Money Wallet Moves 182B SHIB to CryptoCom and Gemini

According to WhaleStats, “Boromir,” the 168th-largest ETH whale, has just amassed an astounding 120,000,000,000 (120B) SHIB. 

This equals $1,450,800 ($1.45M) USD in one huge transaction over the previous 24 hours. 

Top ETH Whale adds Shiba Inus worth $1.45 million (SHIB).

According to the information given by Etherscan.io, the enormous purchase was made roughly 12 hours before press time through Paribu, Turkey’s top cryptocurrency transaction platform.

On the 4-hour chart, Shiba Inu is forming a classic “ascending triangle” pattern around the critical resistance level at $0.000012. 

Increasing buying pressure and a bullish market outlook may enable SHIB to break out to the upside.

Shiba Inu’s price unexpectedly rose by 42% in one day in August 2022, from $0.000012 to $0.000018. 

The SHIB coin is currently running into resistance at the $0.000012 area after falling from its prior highs of $0.00001295 and $0.0000125 on January 18 and 22, respectively. 

SHIB may reach the next target of $0.0000136 if it can cross this range. The price may continue to rise, with $0.0000151 and $0.0000179 as possible targets.

Shiba Inu currently trades at $0.00001201, up 1% from the previous day, and has a 24-hour trading volume of $216,819,214 ($216.81M).

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Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.

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