Shiba Inu Coin rebound looms as whales suddenly buy amid reserves drain
PositiveCryptocurrency
- Shiba Inu (SHIB) token is currently trading at $0.00000841, slightly above its year-to-date low of $0.00000753, as whale investors have begun purchasing the token amid a notable drain in reserves. This activity suggests a potential rebound for the cryptocurrency.
- The sudden interest from large holders, or whales, indicates a shift in market sentiment, which could lead to increased trading volume and price stabilization for SHIB. This is particularly significant as the token has been under pressure, hovering around 90% below its peak value.
- The recent uptick in whale transactions, alongside a surge in trading volume across major exchanges, reflects a broader trend of renewed investor confidence in Shiba Inu. This resurgence comes as the Shibarium network shows signs of recovery, potentially enhancing the token's utility and market position.
— via World Pulse Now AI Editorial System
