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Shiba Inu Price Shows Positive Movement
The cryptocurrency market has been volatile recently, but there is a positive shift happening with most assets now trading higher. Shiba Inu (SHIB) has shown a 2.27% increase in the last 24 hours, currently trading at $0.00001681.
Decoupling and Bullish Trend
Santiment, a top crypto analytics platform, noted a 5% surge in Shiba Inu over the past 48 hours, marking a decoupling from other cryptocurrencies. This shift suggests SHIB is gaining momentum independently.
Investor Behavior
Analysis by Santiment reveals significant changes in SHIB’s top exchange whale wallets, with a decrease in holdings and a rise in non-exchange whale wallets. This trend signifies growing investor confidence and reduced selling pressure.
Trust and Ownership
The transition of SHIB into self-custody wallets indicates a higher level of trust among investors. The reluctance to sell their SHIB holdings bodes well for the asset’s future performance.
Trading Activity
While SHIB’s daily trading volume has decreased by 41% in the last 24 hours, large transactions exceeding $100,000 have surged by 540.04%. This uptick in significant transactions implies heightened institutional participation in buying or selling activities.
Potential Growth
Speculation is rife about SHIB’s potential to achieve a $100 billion market capitalization. The recent positive indicators and increased investor confidence hint at a promising future trajectory for SHIB.
Conclusion
Shiba Inu’s recent performance has been a mix of ups and downs, but factors like decoupling from other cryptocurrencies, growth in non-exchange whale wallets, and increased large transactions signal a potential turnaround for the asset. As the market dynamics unfold, the sustainability of SHIB’s momentum and its ability to reach new highs remain to be seen.