The Shiba Inu (SHIB) token has seen a surge in whale activity, with large investors accumulating a significant amount of tokens in the past few hours. According to Lookonchain data, nine wallets, including two massive whales, have acquired 1.356 trillion SHIB tokens, totaling an investment of $35.2 million.
One investor alone spent around 4,849 ETH, equivalent to $18.44 million, to acquire 715.9 billion SHIB tokens within the last six hours. This bullish rally among cryptocurrency whales reflects their confidence in SHIB, despite the current market volatility.
The recent whale activities suggest a shift towards secure environments, as large investors move their assets from centralized exchanges. This indicates a long-term interest in SHIB and a strategic approach to asset management during market downturns.
Currently, SHIB is trading at $0.00002532, with a 1.76% dip in the past 24 hours. The market cap stands at $14.91 billion, with a trading volume of $395 million. The Relative Strength Index (RSI) is at 51.79, signaling a neutral market sentiment.
Overall, the recent whale activity and price movements indicate a mix of bullish and bearish positions among investors, with a neutral market sentiment prevailing. Stay tuned for further updates on SHIB’s price rally.
Source: [The News Crypto](https://thenewscrypto.com/shiba-inu-whales-accumulate-trillions-of-shib-tokens-price-to-rally/)
