Altcoins

Ethereum Whale Buys 312 Billion Shiba Inu, Now Holds 516 Billion SHIB

Major ETH Whale Tagged “BlueWhale0113” Gobbles Up Whopping 312.28 Billion SHIB, Worth $3.72 Million as SHIB Poised for Breakout.

Shiba Inu (SHIB) comes under deep-pocketed ETH investor’s radar as the price of the popular dog-themed cryptocurrency flirts with a critical resistance level located at $0.000013 on the daily chart.

The blockchain data tracking website, WhaleStats recently reported that the 395th biggest ETH Whale tagged “BlueWhale0113” has just accumulated a whopping total of 312,285,225,685 (312.28B) SHIB, worth $3,722,439 ($3.72M) in one significant transaction.

🐳 ETH whale “BlueWhale0113” just bought 312,285,225,685 $shib ($3,722,439 USD).

Ranked #395 on WhaleStats: https://t.co/98iwkzfSal

Transaction: https://t.co/JFEIRwpAGv#SHIB #ShibArmy

— WhaleStats (free data on crypto whales) (@WhaleStats) August 9, 2022

On August 5th (Friday), “BlueWhale0113” added 31,995,229,562 (31.99B) SHIB, worth $387,782 in 7 separate transactions, Etherscan.io reports.

At the time of writing, the top ETH Whale now holds a total of 516,292,072,280 (516.29B) SHIB, worth $6,128,386 ($6.12M) in her wallet.

ETH Whale SHIB

Shiba Inu Poised For Breakout and Hints a Price Increase of Almost 100%:

The price chart for Shiba Inu shows that Shib is poised for a breakout and may show exceptional performance in the coming days or weeks. Shiba Inu is undergoing a consolidation phase and has been trading in a range of $0.00000717 to $0.000013 for the past three months.

Since July 29th, Shiba Inu has been flirting with a critical resistance at $0.000013 on the daily chart while trading above 20-EMA, forming the textbook “Ascending Triangle Pattern” on the daily chart.

SHIB Technical Analysis

This type of tight consolidation above 20-EMA following the formation of the textbook “Ascending Triangle Pattern” usually indicates the building of strong buying pressure around the asset.

If Shiba Inu becomes successful in breaking the aforementioned critical resistance level, the price might increase almost 100% to reach the next resistance level located at $0.00002180. On the flip side, if Shiba Inu breaks below the $0.00000717 mark bullish thesis would nullify. The current support levels to watch are $0.00000983 and $0.00000717 on the daily chart.

   

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