Trillions of Shiba Inu Tokens Snapped Up as SHIB Price Hits Turning Point – Crypto News – Crypto News
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Trillions of Shiba Inu Tokens Snapped Up as SHIB Price Hits Turning Point Trillions of Shiba Inu Tokens Snapped Up as SHIB Price Hits Turning Point

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Trillions of Shiba Inu Tokens Snapped Up as SHIB Price Hits Turning Point – Crypto News

Published

2 years ago

on

Gamza Khanzadaev

Bullish investors acquire 26 trillion SHIB as price of Shiba Inu token reaches key level

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not invest recommending money you cannot afford to lose.

Shiba Inu token purchases by large market participants totaled 26.2 trillion SHIB in the past week, according to cryptocurrency intelligence portal IntoTheBlock, The data only takes into account addresses whose SHIB turnover accounted for at least 0.1% of the token’s total daily trading volume.

Sales by large participants during the week were also counted in the tens of trillions, but their aggregate number was almost 300 billion SHIB less. Nevertheless, the number of addresses of large sellers exceeds the number of no less large buyers. the Shiba Inu token by three.

make it or break it

As you can see from the balance of purchases and sales, the initiative in SHIB is now on the side of bulls. This can be considered logical, given the price action of the Shiba Inu token.

SHIB to USD by CoinMarketCap

After the price of shib Updated its minimum of this year, consolidation on the bottom came, which in general is a favorable period for an entry by large capital. Furthermore, entering a deal on the local bottoms is an attractive option from the risk and reward point of view.

As long as the SHIB price continues to move sideways, we can expect bulls to continue to dominate. However, if the price does not show growth in the near future, or worse, renews the low of $0.00000832, we can say that the shiba inu token “broke it.”

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