Shiba Inu (SHIB) is on a beeline for the ceiling, surging nearly 10% in a single day. This price jump coincides with a massive buy-in from a whale investor, rekindling excitement in the SHIB community.
Early SHIB Investor Makes a Big Splash
The whale in question isn’t new to the game. This savvy investor previously turned a hefty profit of $145 million from SHIB. After a two-year hiatus, they’re back in the market, swapping nearly $19 million for a cool 715.8 billion SHIB.
This whale’s move wasn’t just a drop in the bucket. The significant purchase sent shockwaves through the market, directly impacting the price. Analysts attribute the recent 10% surge to this whale’s bullish behaviour.
More Where That Came From?
The story doesn’t end there. The whale still holds a significant war chest of assets, including over $34 million worth of ETH and WETH. This suggests there’s a chance for further SHIB acquisitions, potentially pushing the price even higher.
What Can A Whale’s Vote of Confidence Do?
The whale’s renewed interest in SHIB is more than just a money move. It’s seen as a strong vote of confidence in the meme coin’s future potential. This endorsement from a seasoned investor is likely to attract new participants to the SHIB market.
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Excitement Grows Within SHIB Community
The SHIB community is ecstatic about the whale’s return. Large-scale purchases are often viewed as a bullish signal, indicating long-term faith in the asset. This positive sentiment comes on the heels of a recent SHIB burn spike, further fueling investor optimism.
Shiba Inu Braced For Continued Growth
With a nearly 10% price increase, a supportive whale investor, and a burning token supply, Shiba Inu appears poised for continued growth. While the future remains uncertain, this recent surge has undoubtedly reignited excitement for the meme coin.
