Shiba Inu Becomes Top 10 Purchased Token By Biggest 1000 ETH Whales After Bouncing 6% From Major Support
Shiba Inu Enters Top 10 Purchased Tokens By Biggest 1000 ETH Whales.
Shiba Inu (SHIB) token is back on the “Top 10 Purchased Tokens” list as the crypto traders are hoping for a near-term trend change, i.e., from Bearish to Bullish.
As reported by The Crypto Basic, Shiba Inu’s price was hovering around at critical support level, i.e., $0.00002347 yesterday.
SHIB bounced back from that critical support level and pierced the first resistance at $0.00002367 in the 4-hour chart. The closing of a 4-hour candle above this resistance level confirms that the near-term trend will reverse. SHIB price is now trying to break another critical resistance located at $0.00002403.
If Bulls successfully conquer this level, we may see the price reach its next price target of $0.00002755 in no time. However, the $0.00002755 level is supposed to be the “tough nut to crack” for the bulls as it was strong support that turned into resistance.
But in case the bulls managed to conquer the $0.00002755, this will be taken as a “Bullish Trigger” for many of the retail traders and technicians. We might observe some volatility in the price of SHIB. If we summarize our technical analysis, we see the Big Bullish Rally coming into the picture in the coming weeks.
For this reason, the biggest Ethereum wallets, which seem to be bullish on Shib, became active and started to accumulate Shiba Inu tokens aggressively, which led SHIB to become the top 10 purchased tokens and top most used smart contracts by 1000 biggest ETH whale wallets over the last 24 hours, as per recent data provided by WhaleStats.
— WhaleStats – BabyWhale ($BBW) (@WhaleStats) March 9, 2022
On average, each top whale present in the 1000K list purchases 117M Shiba inu coins worth $2735.
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