• Shiba INU (SHIB) price is climbing towards the north despite Whales dump on the token.
• The crypto markets continue to trade under a bullish influence, with Bitcoin price trading close to the crucial levels around $21,000.
• SHIB was also the most-held token by the top 100 Ethereum whales, with a huge whale transaction of more than 443 billion tokens worth $5.1 million.
The crypto markets continue to remain in the bulls’ grip, with Bitcoin trading close to the crucial levels around $21,000. Despite the recent bankruptcy in crypto space, the crypto trading has been largely unaffected, as the traders continue to remain bullish. One of the major altcoins that appears to have withstood the turbulence is Shiba INU (SHIB).
The SHIB prices have been on a steady rise, and the token has been displaying enough strength and high probability to go long very soon. During the previous trading day, the SHIB prices rose to highs due to the Shibarium network update, which added to the bullish sentiment. Adding to the bullish sentiment, SHIB was also the most-held token by the top 100 Ethereum whales.
In addition to this, a huge whale transaction was also encountered as soon as the SHIB prices spiked of more than 443 billion tokens worth $5.1 million in a single transaction. Interestingly, this was a sell transaction! Post to which the SHIB prices were impacted notably and faced rejection from the levels close to $0.000013. However, despite the pullback, the bulls continue to carry enough strength and hold the selling pressure, as the SHIB prices continue to hover within the ascending rising channel.
The SHIB prices have a strong potential to reach the next resistance level of $0.000013, and the token is expected to continue its positive momentum in the coming days. Despite the whales’ dump, the SHIB prices remain bullish due to the increased demand from the traders, and the token is likely to remain in the bulls’ control for the foreseeable future.