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In the middle of the current downward wave sweeping different assets on the cryptocurrency market, investors make strategic movements to consolidate their positions. In particular, a Shiba Inu (SHIB) Whale has accumulated an additional 257.5 billion additional shib worth $ 4.6 million.
The accumulation of whales arouses market interest
According to LookonchainA chain data analysis platform, the SHIB whale took advantage of the market slowdown to make additional purchases.
Commentators have noted that it is a typical strategy for whales who want to buy more during market decreases while betting on future price recovery.
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After making the purchase, the data show that the total whale assets increased massively. The SHIB whale now has a cumulative of 477.5 billion shib tokens worth $ 8.57 million.
This massive accumulation signals a strong belief in the future potential of the token. Market analysts interpreted this as a new optimist for the Shiba Inu community. They insist that whales only make important purchases when they want to double their investment before a bullish price movement.
The action of whales also alignments with growing interests on the part of other market players, because the Shibian negotiation volume jumped from 228.97% to 567.49 million dollars. This increased interest in investors occurs despite a significant drop of 82% prices in the last 24 hours.
When writing these lines, Shib is change Hands at $ 0.0000182, according to CoinmarketCap data. The price of SHIB exchanged between a hollow of $ 0.00001743 and a summit of 0.00001997 in the same period of time.
Essential levels of support for Shib and community anticipation
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Meanwhile, Crypto analyst Ali Martinez identified $ 0.0000,185 at 0.0000212 as the critical support Zone for Shiba Inu. However, the sales pressure grows shib outside this identified area.
While market players continue to consolidate their position, the wider SHIB community provides for new optimists from Shytoshi Kusama. As reported By U.TODAY, the SHIB army is impatiently awaiting new revolutionaries and an announcement about the development of development.