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Cryptocurrency Price Speculations / SHIB: 6 wallet addresses withdrew 482B SHIB ~ $10.66M from Coinbase (2024.03.04)
« on: March 04, 2024, 03:20:59 PM »
SHIB - a decentralized meme token launched in August 2020. It's based on the Ethereum blockchain and has a vast circulating supply, currently at 589T SHIB[1].
I - Onchain data from 52Hz Onchain (in Vietnamese)
6 wallet addresses continue to accumulate SHIB token after 2 years: they withdrew 482B SHIB ~ $10.66M from Coinbase.
For the past two years, a select group of six wallet addresses have been steadily accumulating SHIB. The synchronized timing and volume of these withdrawals strongly suggest coordinated activity by whales[2].
Interestingly, these same wallets were identified as key accumulators before SHIB's explosive price surge in 2021. Now, their continued buying spree suggests they remain bullish on SHIB's potential. Notably, none of the accumulated tokens have been moved yet, further hinting at their long-term confidence in the project.
II - Technical analysis (Weekly chart)
SHIB token price is being supported very well by Weekly EMA34 (Sonic-R) and is breaking out on Kumo Cloud (Ichimoku), reaffirming the growth trend of SHIB token.
[1] Coinmarketcap: SHIB
[2] Money Flow
I - Onchain data from 52Hz Onchain (in Vietnamese)
6 wallet addresses continue to accumulate SHIB token after 2 years: they withdrew 482B SHIB ~ $10.66M from Coinbase.
For the past two years, a select group of six wallet addresses have been steadily accumulating SHIB. The synchronized timing and volume of these withdrawals strongly suggest coordinated activity by whales[2].
Interestingly, these same wallets were identified as key accumulators before SHIB's explosive price surge in 2021. Now, their continued buying spree suggests they remain bullish on SHIB's potential. Notably, none of the accumulated tokens have been moved yet, further hinting at their long-term confidence in the project.
II - Technical analysis (Weekly chart)
SHIB token price is being supported very well by Weekly EMA34 (Sonic-R) and is breaking out on Kumo Cloud (Ichimoku), reaffirming the growth trend of SHIB token.
[1] Coinmarketcap: SHIB
[2] Money Flow