Shiba Inu Price Prediction – Whale Buying Could See SHIB Kill A Zero Soon

Shiba Inu continues the remarkable run that it has had in the past week. In the last week, Shiba Inu is up by 44%, from a low of $0.00002706 to its current price of $0.000039. 

Shiba Inu is one of the most famous meme coins in the market today. SHIB was launched in late 2020 to capitalize on the momentum that Dogecoin was building. However, its big run came in mid-2021 after Vitalik Buterin burned all the tokens donated to him – about 50% of the total supply. Since that time, the Shiba Inu team has been hard at work. Today, Shiba Inu even has its trading platform known as Shibarium, where traders can trade SHIB and other meme coins at a negligible cost. 

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— Shiba Inu (@ShibainuCoin) March 5, 2024

Whales Are Stocking Up 

However, these features and SHIB’s history are not what’s driving up the price today. The excitement around Shiba Inu today has a lot to do with the fact that whales are buying it up, and that’s usually a bullish signal.

Today, a whale has bought up 9.4 billion SHIB tokens at a total cost of $160k. This comes barely 4 days after Rune Christensen, the MakerDAO founder bought 7.41 billion Shiba Inu tokens at a total of $100k. This happened just before the current Shiba Inu parabolic rally started, an indicator of how vital whale moves are when predicting a cryptocurrency’s direction. 

However, the most significant whale move that is also being watched by the market is that of Justin Sun. Lately, he has bought and moved more than 20 billion SHIB tokens from Binance and other exchanges to Poloniex, an exchange linked to him. This has fueled speculation that Sun is taking a keener interest in Shiba Inu and could be looking at a token burn to help spur the activity level on SHIB. 

This whale buying of Shiba Inu indicates that, despite the price of SHIB rising by more than 300% in a week, the big-money players expect it to do even better. This shows that Shiba Inu could quickly kill a zero or two now that the market is entering another bullish super cycle, driven by the Bitcoin halving. 

All this excitement around Shiba Inu, thanks to whale activity, is enhanced by the fact that Shiba Inu is easily accessible on most top exchanges. You can buy Shiba Inu on top-tier crypto exchanges such as Binance, OKX, and Coinbase. 

In the section below, we look at Shiba Inu’s price action and how it is likely to trade now that whale activity is rising. 

Shiba Inu Crypto Price Prediction

When going to press, Shiba Inu traded at $0.00003996, with volumes of $13.57 billion. Due to the fast-surging price, Shiba Inu’s market capitalization has shot up by 53% to hit a high of $23.52 billion. 

After more than 24 hours of a massive price run, Shiba Inu is consolidating between $0.00004572 resistance and $0.00003766 support.

If bulls sustain the momentum built so far and push Shiba Inu through the $0.00004572, it could quickly kill a zero in the day or within the week. 

However, two scenarios could play out if buyers cannot push Shiba Inu through the $0.00004572 resistance. The first one is a continued consolidation between $0.00004572 and $0.00003766. 

On the other hand, if profit-taking triggers a selloff and the $0.00003766 support is broken, then prices below $0.00003000 could be tested in the short term. 

Why Shiba Inu Is Set To Kill A Zero

While a consolidation or bearish reversal could play out today, the odds are that the bulls will sustain the momentum built up. That’s because the broader market is bullish mainly, and money will likely keep flowing into fast-rising meme coins like Shiba Inu. 

There is also the news element. Shiba Inu is currently experiencing a lot of whale activity, which will likely keep investors excited about SHIB. This could see FOMO trigger another buying wave that will see SHIB kill a zero soon. 

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