- Shiba Inu (SHIB) has surged 11% in the past 24 hours.
- Significant whale transactions are driving SHIB’s price surge.
- Prominent crypto educator Davinci Jeremie continues to express confidence in SHIB.
Shiba Inu (SHIB) experiences a significant price surge, driven by whale transactions and market optimism.
SHIB’s Recent Price Surge and Market Performance
Shiba Inu’s (SHIB) market trend has been positive year-to-date, with its current price levels matching those of early April. SHIB has risen 11% over the past intraday session, trading at $0.00002881. This figure represents a 7% weekly rally and a 17% increase month-to-date.
Whale Transactions and Market Influence
Shiba Inu’s rally is potentially influenced by several factors, including speculation about whale investors, who are reportedly focusing on Shiba Inu and Pepe (PEPE). Lookonchain previously highlighted a whale movement from PEPE to SHIB. This whale investor initially held 1.97 trillion PEPE tokens, valued at over $6.07 million. After depositing them into Binance, the trader reportedly realized a profit of $3.49 million. Afterward, the investor reportedly acquired approximately $75.9 billion SHIB for $893 million and moved it to a private wallet. Market analysts believe these movements have resumed, potentially bolstering investors’ confidence and propelling SHIB’s market value.
Trading Volume and Market Activity
Moreover, data from CryptoQuant shows a notable rise in SHIB trading volume, with over 5.354 trillion coins valued at more than $132 million traded yesterday. This marks a 169% increase compared to the previous day, primarily driven by substantial whale transactions.
Influence of Crypto Educators
Meanwhile, popular crypto educator Davinci Jeremie has continued to express optimism regarding Shiba Inu’s market outlook. Jeremie, who gained prominence for his 2013 YouTube video urging viewers to invest at least $1 in Bitcoin, has recently shifted his attention to Shiba Inu. In a recent video, Jeremie pointed to the coin’s current trend as a buying window.
Conclusion
Shiba Inu’s recent surge underscores the significant influence of whale transactions and market sentiment. With prominent figures like Davinci Jeremie expressing confidence in SHIB, the cryptocurrency’s outlook appears optimistic. Investors should closely monitor these developments as they navigate the dynamic crypto market.
