In a notable development within the Shiba Inu cryptocurrency community, a major whale has executed a substantial transfer of 4.43 trillion SHIB tokens, valued at $35.91 million, to an undisclosed wallet. This move comes as Shiba Inu enthusiasts set their sights on achieving the $0.00001 price level.
Whale Alert Triggers Interest
Leading blockchain tracking platform Whale Alert recently reported an intriguing shift in the holdings of the largest whale wallet. The whale in question moved a staggering 4,439,530,677,374 SHIB tokens in a single transaction, further adding to the curiosity surrounding Shiba Inu’s price movement. This transaction took place approximately 14 hours ago at the time of reporting.
Notably, this recent transfer follows a similar, attention-grabbing move by the whale on November 3, when they accumulated 4.45 trillion SHIB tokens, valued at $34.56 million. This accumulation had propelled the whale into the 25th position among the world’s largest SHIB holders.
However, with the recent transfer, the top whale’s SHIB balance now stands at zero, according to data from Etherscan.io.
Bullish Sentiment Grows
These significant and rapid transfers of SHIB tokens among top whale wallets have ignited optimism within the Shiba Inu community, suggesting that a bullish trend may be on the horizon. The primary goal is to push the SHIB token’s value beyond the coveted $0.00001 threshold. Notably, Shiba Inu has remained below the $0.00001 level for the past ninety days. The last time Shiba Inu managed to eliminate a zero from its value was on August 12, and it has since traded with five decimal places.
Shiba Inu’s Path to $0.00001
To provide context, Shiba Inu would need to surge by 20% from its current price to reach the $0.00001 milestone. At present, SHIB is encountering a crucial resistance level at $0.00000825 on the daily chart. A successful breach of this resistance would position Shiba Inu for a 10% rally, with the next resistance level at $0.00000917 as the next target. Overcoming this level would mark a significant achievement, potentially paving the way for a rally aimed at reclaiming the sought-after $0.00001 price point.