Shiba Inu (SHIB) prepares for year-end move
In two large transactions, 5.6 trillion SHIB, or about $52 million worth, moved between whale addresses in the past 24 hours.
According to crypto data tracker WhaleAlert, 2.8 trillion SHIB worth $25,983,999 were moved between unknown wallets in the past eight hours in a single transaction.
In another transaction reported by crypto data tracker about 16 hours ago, 2,871,107,065,473 Shiv $26,356,762 was observed to be transferred between unknown wallets.
While whales’ accumulation cannot be ruled out, the recent large move might correspond to internal wallet reshuffling by crypto exchanges. In simple terms, an exchange might involve shifting funds to alternate exchange wallets or moving assets to another exchange.
On the other hand, the accumulation trend of whales is seen as the top 100 Shiba Inu holders, who hold billions of tokens, have increased their holdings in the past 24 hours.
According to WhaleStats data, the average SHIB balance of the top 100 SHIB holders has increased by 1.43% in the last 24 hours. Considering the amount held by this category of addresses, this might imply an addition of millions of SHIB.
Similarly, the average SHIB value of his holding has gone up by 3.86%.
SHIB prepares for year-end move
The year 2022 was a difficult one across the board, marked by industry failures and falling prices brought on by the Fed’s aggressive monetary tightening policies. A vast majority of crypto assets have underperformed so far in the year, and SHIB is in no way excluded.
According to data from CoinGecko, SHIB is down 74.8% so far in 2022 compared to last year, when SHIB ended strongly with thousands of percent gains.
The bulls may look to salvage the situation with a last-minute end-of-the-year run, but SHIB must put in a nearly 80% rise within the next 19 days. At the time of publication, SHIB was up 1.5% at $0.00000932. Also, SHIB remains 66% correlated with Bitcoin; thus, keeping an eye on the general market trend might help predict SHIB’s next moves.
