Coin Edition -
- Shiba Inu (SHIB) has surged 11% in the past 24 hours.
- Significant whale transactions are driving SHIB’s price surge.
- Prominent crypto educator Davinci Jeremie continues to express confidence in SHIB.
Shiba Inu’s (SHIB) market trend has been positive year-to-date, with its current price levels matching those of early April. SHIB has risen 11% over the past intraday session, trading at $0.00002881. This figure represents a 7% weekly rally and a 17% increase month-to-date.
Shiba Inu’s rally is potentially influenced by several factors, including speculation about whale investors, who are reportedly focusing on Shiba Inu and Pepe (PEPE).
Lookonchain previously highlighted a whale movement from PEPE to SHIB. This whale investor initially held 1.97 trillion PEPE tokens, valued at over $6.07 million. After depositing them into Binance, the trader reportedly realized a profit of $3.49 million.
A smart whale deposited all 1.97T $PEPE($6.07M) to #Binance and made a profit of $3.49M.Then he changed his position from $PEPE to $SHIB, withdrawing 75.9B $SHIB($893K) from #Binance 3 hours ago.https://t.co/X67O2VjR1y pic.twitter.com/nL7rRDZCXT— Lookonchain (@lookonchain) February 29, 2024
Afterward, the investor reportedly acquired approximately $75.9 billion SHIB for $893 million and moved it to a private wallet. Market analysts believe these movements have resumed, potentially bolstering investors’ confidence and propelling SHIB’s market value.
Moreover, data from CryptoQuant shows a notable rise in SHIB trading volume, with over 5.354 trillion coins valued at more than $132 million traded yesterday. This marks a 169% increase compared to the previous day, primarily driven by substantial whale transactions.
Meanwhile, popular crypto educator Davinci Jeremie has continued to express optimism regarding Shiba Inu’s market outlook. Jeremie, who gained prominence for his 2013 YouTube video urging viewers to invest at least $1 in Bitcoin, has recently shifted his attention to Shiba Inu.
In a recent video, Jeremie pointed to the coin’s current trend as a buying window.
“I told you guys to buy Shiba; now you want to know. Okay, pumped, made some money. What do we do now it’s going down, right? Well, I’m telling you, Shiba, once it’s finished going down and breaks out—it could break out above the 2500 or the 3000—that’s it. It’s going all the way to 6000.”
Jeremie has repeatedly encouraged investors to acquire Shiba Inu tokens, promoting the cryptocurrency in January, August, and October last year. This year, he reiterated his support for SHIB in January, advising the public to consider investing in the token.
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