Shiba INU, one of the most popular crypto assets is speculated to be at the foothill of a massive explosion. On the other hand, a decline in the trading volume flashes a bearish reversal, and some market experts believe, a recovery phase to begin very soon. As the popular Memcoin yielded 50% gains to holders this week, a notable rise is believed to be fast approaching.
While the top 1000 whales have been continuously accumulating Shiba INUs, and now they have become the largest non-ERC20 tokens. Furthermore, over the past few weeks, large wallet investors on the ETH chain have intensified their SHIB holdings by accumulating assets on the downside. Whales’ wallets currently hold $1.89 billion worth of SHIB, which is more than 5% of their entire holding.
Therefore, despite the current consolidation, SHIB price is expected to ignite a significant upswing soon.
On the other hand, the Shiba INU burning has intensified as more than 16 million SHIBs have been burned overnight. Hence, a total of 410.37 trillion SHIB has been burned so far, furthering the expectations of the Shiba INU price rally. However, the recent dip in momentum is likely to lead to a steep decline in the prices soon, triggering a SHIB price rally in the coming days.
Presently, Shiba INU’s price is hovering around $0.00001543 with a drop of 4.2% compared to the previous day’s close. The market capitalization has also dropped significantly, while the trading volume has slashed by more than 33%.
