Shiba Inu Whale Accumulation Continues – SHIB Price Might See Short-Term Rally In September

Shiba Inu Whale Accumulation Continues – SHIB Price Might See Short-Term Rally In September

Whales

The post Shiba Inu Whale Accumulation Continues – SHIB Price Might See Short-Term Rally In September appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide

Shiba Inu is predicted to see a massive surge soon. With a new green candle on the charts, the meme-coin is likely to make a run toward the next resistance soon. 

Shiba Inu saw a major “buying activity” within a relatively short time. As can be seen on the 4-hour chart, Shiba Inu illustrated a massive green candle following the liftoff from the MA 50 at $0.0000122.

Most recently, WhaleStats multi-chain wallet tracker has disclosed that the largest Ethereum whales grabbed $8 million worth of the Shiba Inu meme coin over the past two days.

Just a few days before this accumulation, CNBC’s Jim Cramer had warned investors against buying cryptocurrencies in general and specifically SHIB and DOGE.

Whale Purchases

Recently, a WhaleStats tweet mentioned that whales’ SHIB stash has gone up by a substantial $8,000,000, which is an equivalent of 643,086,816,720.

At the end of last week, the top 500 wallets had a bit more than $147 million in the second largest canine coin. Now, they own $155,359,382 worth of SHIB! 

Also, on Friday and Saturday, anonymous wallets moved massive amounts of SHIB. A mysterious whale bought 114,952,894,138 Shiba Inu and transferred it to Binance to sell it. This included three other large SHIB transactions made by different whales.

Whales wired a total of 281 billion SHIB on Saturday.

Jim Cramer’s Warnings

Last week, the host of CNBC’s Mad Money show – Jim Cramer, stated that investors should avoid putting their money in risky assets and should especially avoid cryptocurrencies. He added that people should not “get memed,” which has been interpreted as a warning against investing in meme-coins- Dogecoin and SHIB- as well as meme stocks. 

Influencer David Gokhshtein agreed with Cramer’s views and said so on Twitter too.

In Fed Chairman Jerome Powell’s recent speech, he said that the central U.S. bank is going to stick to its hawkish stance and will continue with its tight monetary policy. Soon after this, Gokhshtein tweeted. 

He also reminded the CNBC audience that Powell had recommended: “to stop doing stupid things with our money.” Powell mentioned that dealing with inflation may cause “some pain” to U.S. businesses and households. 

Is Shiba Inu on the Rise?

SHIB is expected to make an upward move after it displayed a huge green candle, attempting to reach beyond the four-hour MA 200.

Nevertheless, the token could not immediately burst through the overhead barrier at $0.00001333 and ended up reversing back below the 4-hour MA 200 at $0.00001295. SHIB is currently trading at $$0.00001205 while attempting a decisive break above this key level. As per CoinMarketCap data, SHIB was down by 4.35% in the last 24 hours at the time of publication.

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