The Shiba Inu (SHIB) community is showing strong support once again, and big investors, known as whales, are stepping in to help. Although SHIB has done well recently, it’s still in a long consolidation phase, meaning the price hasn’t changed much. But now, large investors are buying SHIB, which could change things.
SHIB is in a good buying phase because its price has been moving sideways. Some people may be worried, but whales are taking advantage of the low prices. On Sept. 23, investors bought over 621 billion SHIB tokens, worth about $9.11 million data collect from CryptoQuant. This is one of the biggest movements in the last two weeks.
Shiba Inu Price boost expected after major withdrawals
If history repeats itself, Shiba Inu’s price usually goes up after big withdrawals from exchanges. We might see some gains this time too, but a huge price jump isn’t guaranteed because many other factors play a role. Even a small price increase could still make the SHIB community happy.
At the time of writing, SHIB is trading at $0.0000148, with a small 0.95% increase in the last 24 hours. Over the past week, it’s up by 10.26%, thanks to a general recovery in the crypto market. With whales buying more SHIB, the coin might aim for higher prices soon.
