Shiba Inu News: New Whale Enters Top 50 with 2.4T SHIB Tokens from Binance

The post Shiba Inu News: New Whale Enters Top 50 with 2.4T SHIB Tokens from Binance appeared first on Coinpedia Fintech News

Shiba Inu (SHIB), the popular dog-themed cryptocurrency, has recently seen a surge of attention in the financial markets. One of the major highlights in this uptick of activity is the appearance of a new entrant into the SHIB whale club, making a staggering purchase in a single transaction.

A New Whale Dives In

The mysterious player emerged in the crypto space, seizing nearly $19 million worth of SHIB in a single transaction. A staggering 2.41 trillion SHIB, originating from a wallet connected to Binance US 2, was snapped up by the newcomer, catapulting them into the top tier of SHIB holders. This single investment has positioned them as the 34th largest SHIB holder.

This introduction marks the second such occurrence in less than a week, indicating an increasing trend of large-scale interest in cryptocurrency. Despite this, the price point of $0.000008 continues to be a contentious battleground between bullish investors and skeptical bears.

The Battle of the Bulls and Bears

Although the bulls have made significant strides, the bears seem to hold the upper hand, as evident from the abundance of red clusters marking the sellers’ strong presence. The current value of SHIB stands at $0.000007856, having risen slightly by 1.45% over the last 24 hours.

In a closer look at Shiba Inu’s performance, it is evident that cryptocurrency is lodged between a rock and a hard place. The contention between the forces of supply and demand has rendered SHIB stuck in a price range of $0.000007 and $0.0000084 since late June.

Despite the prevailing struggle, SHIB’s trajectory might shift upwards if it breaks past the $0.0000084 mark. This could trigger a new wave of bullish momentum, potentially propelling the SHIB price to breach the $0.000010 barrier, effectively knocking off a zero from its current price.