- A mysterious large wallet investor bought $1.1 million worth of SHIB tokens on September 5.
- SHIB traders started a petition on Change.org, asking for commission-less exchange to list Shiba Inu coin.
- Shiba Inu coin resumes upward climb, analysts set a target of $0.000009.
Cryptocurrency market analysts believe that Shiba Inu coin can overtake Dogecoin, expect decentralized exchange ShibaSwap to burn more SHIB. The drop in SHIB’s circulating supply is likely to trigger a price rally.
SHIB rally continues, analysts set a target of $0.000009
Shiba Inu coin has garnered mainstream attention yet again as the SHIB community’s petition to list the token on commission-free exchange Robinhood gets 181,091 signatures.
In a recent report, the exchange disclosed that 62% of its crypto revenue in Q2 of 2021 came from Dogecoin. This has inspired the SHIB community to get the token listed on the exchange, stating that it has genuine potential to offer double-digit gains to traders.
Tristan Luke, a proponent of the Shiba-Inu-themed cryptocurrency, started the petition nearly four months ago. With 20,000 more signatures, it is set to become one of the top-signed petitions on the petition website Change.org.
The token’s price has been up nearly 20% in the past 30 days, and trader sentiment is bullish as SHIB continues its climb. A mysterious large wallet investor recently added 150 billion SHIB to their wallet while the token witnessed a massive surge in price. The whale is known to have converted their Ethereum holdings to Shiba Inu coin.
An ETH whale just bought 150,000,000,000 $SHIBA INU ($1,126,500 USD).
— WhaleStats (@WhaleStats) September 5, 2021
Ranked #16 on WhaleStats: https://t.co/roFBrmx3qH
Transaction: https://t.co/gn0HF8iR8M#shib #ethereum #whalestats #defi #erc20
The said wallet holds cryptocurrencies worth $158.4 million based on data from Whalestats.
Historically, whale movements drive the volatility of Shiba-Inu-themed cryptocurrencies DOGE and SHIB. The rising volatility currently has a positive impact on SHIB’s price, and analysts have set a bullish target of $0.000009 for the token.
FXStreet analysts have predicted that the token will rebound to $0.000009 in the current rally.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Bitcoin Weekly Forecast: BTC nosedives below $95,000 as spot ETFs record highest daily outflow since launch
Bitcoin price continues to edge down, trading below $95,000 on Friday after declining more than 9% this week. Bitcoin US spot ETFs recorded the highest single-day outflow on Thursday since their launch in January.
Bitcoin crashes to $96,000, altcoins bleed: Top trades for sidelined buyers
Bitcoin (BTC) slipped under the $100,000 milestone and touched the $96,000 level briefly on Friday, a sharp decline that has also hit hard prices of other altcoins and particularly meme coins.
Solana Price Forecast: SOL’s technical outlook and on-chain metrics hint at a double-digit correction
Solana (SOL) price trades in red below $194 on Friday after declining more than 13% this week. The recent downturn has led to $38 million in total liquidations, with over $33 million coming from long positions.
SEC approves Hashdex and Franklin Templeton's combined Bitcoin and Ethereum crypto index ETFs
The SEC approved Hashdex's proposal for a crypto index ETF. The ETF currently features Bitcoin and Ethereum, with possible additions in the future. The agency also approved Franklin Templeton's amendment to its Cboe BZX for a crypto index ETF.
Bitcoin: 2025 outlook brightens on expectations of US pro-crypto policy
Bitcoin (BTC) price has surged more than 140% in 2024, reaching the $100K milestone in early December. The rally was driven by the launch of Bitcoin Spot Exchange Traded Funds (ETFs) in January and the reduced supply following the fourth halving event in April.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.