• Shiba INU (SHIB) prices have been rising despite the crypto space being volatile with a lot of disturbance.
• Despite whales dumping Shiba INU, the price continues to show enough strength and is likely to go long.
• The SHIB prices rose to highs fueled by the Shibarium network update and was also the most-held token by the top 100 Ethereum whales.
The crypto markets have been volatile lately, with Bitcoin’s price oscillating between $20,000 and $21,000, and the entire space being rattled with various disturbances. However, amidst all the turbulence, Shiba INU (SHIB) price has been climbing towards the north and continues to display enough strength and high probability to go long very soon.
The SHIB prices first rose to highs fueled by the Shibarium network update. This update enabled users to purchase goods and services with SHIB, lending credibility to the currency. Moreover, SHIB was also the most-held token by the top 100 Ethereum whales, which further boosting the prices. This was followed by a huge whale transaction which saw more than 443 billion tokens worth $5.1 million being sold in a single transaction. Although this had an impact on the SHIB prices, the bulls appear to carry enough strength to hold the selling pressure.
The Shiba INU price continues to hover within the ascending channels and remains above the gained levels of around $0.000011 despite millions of tokens being dumped by the whales. This is a clear indication that the buyers are still in control of the market and there could be more upside potential in the days to come.
In conclusion, Shiba INU seems to be on a steady climb despite the crypto market going through a lot of turbulence. The SHIB price has shown enough strength and is likely to go long very soon, given the current market conditions. Moreover, the Shibarium network update and the fact that SHIB is the most-held token by the top 100 Ethereum whales have lent a lot of credibility to the currency. Therefore, those looking to invest in SHIB can do so with confidence.