- Shiba Inu price is maintaining a balancing act as large wallet investors scoop up the meme coin.
- The Dogecoin-killer has witnessed a spike in trade volume over the past 24 hours from whales on the Shiba Inu network.
- Analysts believe that Shiba Inu price has built momentum for a 30% upswing.
Shiba Inu price could surprise bears with a massive spike as the transaction volume of large wallet investors increases. Analysts are bullish on the Dogecoin-killer and believe that a breakout in Shiba Inu price is likely.
Also read: Gold Price Forecast: Lower lows hinting at a steeper decline
Shiba Inu price could post 30% in gains
Shiba Inu price has posted losses over the past week. Interestingly, over the past 24 hours, there was a massive spike in the transaction volume of large wallet investors.
Whales increased their trade activity in the meme coin through the recent dip in price. The rising transaction volume could be indicative of a spike in accumulation or rise in selling pressure on the Dogecoin-killer.
Top 100 wallets holding Shiba Inu have added more SHIB to their portfolio. Based on data from crypto intelligence platform WhaleStats, there is a 178.87% increase in the average Shiba Inu balance of large wallet investors.
The value of the Dogecoin-killer token in whale portfolios has noted a 180.48% gain. Active addresses on the Shiba Inu network have increased 880%, alongside the growth of SHIB holdings in whale portfolios. Historically, large wallet investors' accumulation of the memecoin has been followed by a rally in the Shiba Inu price.
Analysts have evaluated the Shiba Inu price trend and predicted a 30% upswing. FXStreet analysts argue that the meme coin could gather momentum and break into an uptrend in the ongoing cycle.
Analysts identified a Kuno twist on the Shiba Inu price chart on March 12, 2022. This indicator is considered a bullish signal for the Dogecoin-killer's price.
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