SHIB Price Set to Turn Downtrend, Are Whales Piling Ahead of 20% Rise?

The meme coin community has set its aspirations for an upside advantage over the prominent Shiba Inu meme coin. Hoping that SHIB would start a similar run from October, where other meme coins had followed suit. The yearning for a lunar price increase intensifies after the hype around Shiba Inu and Turkey. The buzz in the business sees the involvement of a number of rumors about it.

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Meanwhile, a supporter of the Doge-killer Shiba Inu debunks the rumors about the meeting. And he clarifies his views on a myriad of issues that revolve around the SHIB community. On the other hand, amid the surge in big money purchases, the ETH whale accumulates more than 50 billion SHIB. What instills optimism among the troops of the community.

Are whales piling up in anticipation of a major event?

Shib Informer debunks the rumors and misunderstandings surrounding Shiba Inu and Turkey, through his social media account. The informant cites that there has been no formal Shiba Inu dealings with any government. And that the meeting was a friendly approach to Turkish government officials.

The proponent is of the opinion that SHIB is not yet ready to become the official currency of any nation. And that Shibarium/SHI/Shibanet would provide the expandability needed to get it right. The defender in the thread cites that the meetings would be beneficial to the Shib army.

Meanwhile, Shiba Inu is currently the second largest investment held by the top ETH whales. According to some sources, SHIB’s whale transactions are up 11% on the day. whale statistics suggests that an ETH whale has bought 50,736,574,302 SHIB, which is equal to $1,106,564. The day before, the company had come across a buy order worth 49.65 SHIB.

Shiba Inu paw prints on the price chart!

SHIB price at press time is changing hands at $0.00002194 with gains of 1.6%. While the market capitalization hovers around the numbers of $12,058,675,276. The trading volume for the entire day is $440,220,856. SHIB price has been trading in bandwidth from lows of $0.00002142 to highs of $0.00002250.

In conclusion, while SHIB has not found significant adoption or acceptance, the movement is commendable. As efforts in the right direction could pay off in the near future. That said, we can now expect listings like that on Robinhood, following the executive order. Which can potentially push SHIB price into a double-digit rally.