massive accumulation of Sheba whales; Does SHIB resistance break?
Data from the Whalestats service shows that digital currency whales on the Ethereum network added trillions of Shiba Inu tokens to their portfolios in the past 48 hours (January 21 and 22).
According to Valx and quoted by U.today, the Shiba inventory of the Ethereum network’s big whales increased by 2.5 trillion and reached 50 trillion Shiba. The value of these tokens at the time of transfer was 31 million dollars.
Also, Shytoshi Kusama, the developer of the Shiba Inu ecosystem, hinted in a tweet that the Metaverse Shibarium beta will open on Valentine’s Day (February 14). This news increased the price of Shiba and BONE in the market.
These developments caused Shiba to be on the verge of breaking the key resistance level, which is formed by its technical trend line. In the previous two attempts of Shiba, this resistance has acted as a barrier against this currency. Shiba has managed to break and stabilize at a price above its 200-day simple moving average, which is positive news.
Shiba’s analysis shows that considering the state of the market in recent days and the influx of new capital, Shiba’s chances of breaking this trend line are twice as high as before. We have to wait and see if there is enough buying pressure to break this trend line or not.
Writing of the extensive accumulation of Sheba whales; Does SHIB resistance break? The first time in the blog Valx. appeared.