Connect with us

SHIB

Whales Stopped Moving SHIB, Large Transactions Drop 7%

Published

on

SHIB

Whales left Shiba puppy behind in addition to trading volume dropping to pre-pump levels

Following a major correction of the SHIB/USD trading pair since the ATH and the recently increased buying activity, whales have decided to drop the meme-powered token with a large transaction percentage going down and trading volumes reaching new lows.

Fewer whale-tier transactions

According to the on-chain data, the percentage of large transactions on the Shiba Inu network reduced by more than 7%, which is considered a significant decrease in the number of transactions.

Advertisement

The decrease in the number of transactions is usually considered a bad sign for relatively small cryptocurrencies. Large transactions, also known as whale-tier transactions, are welcomed by communities due to being signals of positive market traction.

Whales, in contrast to retail traders, are the ones who change currently existing trends by making large transactions in favor of the coin’s price. Since SHIB has been steadily moving down since the end of October, a high number of whale-tier transactions was a favorable sign.

The trading volume reaches a new low

In addition to reducing the number of large transactions, the trading volume on Binance has also reduced significantly and reached the “pre-pump” number of five trillion tokens moved in one day.

Advertisement
Shib Daily Chart
Source: TradingView

A significant volume drop is tied to decreased interest in the meme-based token after it lost almost 40% of its value from the previous ATH. Amid a cryptocurrency market correction in the last week, SHIB has not lost any of its value and has remained at the level of Nov. 8. Generally, the token’s price decrease slowed down with the average daily volatility reducing approximately 10%.

News Source

Shiba

Shiba Inu price edges closer to another 50% upswing

Published

on

  • Shiba Inu price has dropped 18% into a high probability reversal zone, hinting at a new leg-up.
  • Investors can expect SHIB to shatter intermediate resistance levels and tag the $0.0000625 resistance level.
  • A breakdown of the $0.0000362 support will invalidate the bullish thesis.

Shiba Inu price looks ready for a reversal as it enters a crucial support area that is likely to trigger a massive uptrend. This move has a high chance of occurrence as it allows sidelined buyers who missed the initial run-up to get in on the next leg-up.

Shiba Inu price prepares for liftoff

Shiba Inu price rose 50% in under two days as it triggered an upswing on November 28. This rally set up a swing high at $0.0000543 and has dropped 23% to where it currently trades – $0.0000422.

Interestingly, SHIB has entered the high probability reversal zone, extending from $0.0000400 to $0.0000431. This is an oversold area that is likely to trigger an inflow of buying pressure from investors that missed the initial spike in price.

Therefore, market participants can expect Shiba Inu price to reverse its downtrend soon. The resulting uptrend will take a jab at the range high at $0.0000543 and attempt to move higher. In this case, SHIB will revisit the $0.0000579 and $0.0000625 resistance barriers.

Advertisement

In total, this run-up from $0.0000415 would indicate a 50% gain for Shiba Inu price. 

SHIB/USDT 4-hour chart

SHIB/USDT 4-hour chart

While things are looking gloomy at the moment, investors can expect a decent bounce from Shiba Inu price soon. A failure to do so could result in a breakdown of the 79% Fibonacci retracement level at $0.0000400 and a revisit of the range low at $0.0000362.

A daily close below this level will create a lower low and invalidate the bullish thesis. In such a case, Shiba Inu price could tag the $0.0000330 support level.

Advertisement

News Source

Continue Reading

SHIB

Healthcare Company Adds Shiba Inu to Its Balance Sheet

Published

on

A Toronto-based healthcare company now holds Shiba Inu on its balance sheet.

Ask The Doctor, a Canadian online healthcare company, has added $1.5 million worth of Shiba Inu to its balance sheet, according to an announcement posted on its Twitter account.

Kraken facilitated the seven-figure buy. As reported by U.Today, Shiba Inu started trading on the San Francisco-based cryptocurrency exchange on Tuesday.

Advertisement

The medical information website will also begin accepting the meme cryptocurrency with its healthcare partners within the next three days.

It already allows clients to pay with Dogecoin for certain services in the U.S. and Canada.   

The Toronto-based company was launched in 2010, allowing its clients to connect with medical professionals via text messages or video streaming. Notably, its list of co-founders includes former NBA player Israel Idonije and former NBA star Dikembe Mutombo.

In 2016, Ask The Doctor started accepting Bitcoin payments, becoming the first healthcare company around the globe to embrace crypto.

Advertisement

The reason for adding the new payment option was to offer customers who share sensitive medical data more privacy.

News Source

Advertisement
Continue Reading

SHIB

Shiba Inu Coming to Brazil’s Largest Crypto Exchange

Published

on

BBrazil’s Mercado Bitcoin is set to add support for Shiba Inu on the first day of December.

Mercado Bitcoin, the largest cryptocurrency exchange in Brazil, has announced that Shiba Inu will become available for trading starting from Dec. 1.

The token is yet to be added to the trading platform at the time of writing.

Advertisement

The announcement was accompanied by a video of a Shiba Inu dog in military gear.

After listing SHIB, Mercado Bitcoin will also add support for Cosmos (ATOM), Polkadot (DOT) and Loopring (LRC) later this week.

Advertisement

 2TM, the parent company of the number one exchange in Latin America, raised another $50.3 million in late November. This occurred just months after raking in $200 million in July during a Series B investment round spearheaded by Japanese conglomerate SoftBank.

Last month, Korbit became the first cryptocurrency exchange to list Shiba Inu in South Korea.

Kraken, one of the world’s top exchanges, also added support for the top token earlier this week.

Advertisement

News Source

Continue Reading