Altcoins
Shiba Inu’s 48-Hour Pandemic Stuns Owners
Popular meme coin Shiba Inu experienced a notable mini-decoupling from other altcoins over the weekend, rallying over 5% in 48 hours. This price action has caught the attention of the market, especially SHIB holders, who are anticipating a continuation of the uptrend amid broader market trends. Adding to the promising signs is the behavior of so-called “whales,” which market experts believe is a contributing factor to the price surge.
Shiba Inu had a mini decoupling from other altcoins over the weekend and is up a modest +5% in the last 48 hours. Holders will be happy to see non-exchange whales continue to accumulate while bag exchange whales are shrinking.
Holiness observed that these large investors in particular, non-exchange whales, who typically hold their securities in private portfolios rather than on exchanges, have been on an accumulation spree. This action by these whales underscores the growing confidence and appetite for long-term investing among major players.
On the other hand, the amount of SHIB held by exchange whales, i.e. those who keep their assets on trading platforms, is declining. This is an indicator of declining selling pressure, as fewer SHIB tokens are readily available for trading on exchanges. However, the contrasting nature of the growing accumulation by non-exchange whales and the shrinking exchange whale purses is creating a more favorable supply-demand dynamic for Shiba Inu Dog.
Overall, these are encouraging developments for SHIB holders, who have seen significant volatility in the broader cryptocurrency market. While a 5% increase may seem modest compared to past highs, it represents a positive change for Shiba Inu considering the market volatility for other altcoins.
Shiba Inu on a block trip
As the market continues to evolve, investors will be closely monitoring whale movements and overall trends to gauge the future performance of the Shiba Inu.
In addition, the Shiba Inu continues to make a move towards mainstream adoption, this time taking flight in the travel industry. According to the latest update, SHIB is now accepted as a form of payment by international travel agency Block.Travel. Based in Spain and Argentina, Block. Travel allows users to book flights, hotels, and other travel services using SHIB, along with other cryptocurrencies.