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Large wallet investors have accumulated Shiba Inu through recent crypto bloodbaths. Historically, Shiba Inu accumulation is followed by a spike in the Dogecoin-killer\u2019s price trend.\u00a0<\/p>\n
Based on data from Etherscan, the tracker for cryptocurrencies on the Ethereum blockchain, whales have accumulated Shiba Inu tokens. Several whales purchased Shiba Inu, adding 63 billion tokens to their portfolio.\u00a0<\/p>\n
Etherscan tracks the 63 billion SHIB to four Shiba Inu<\/a> wallets. The first two transactions were purchases of 6.1 billion and 1 billion Shiba Inu, respectively. The other two accounted for 28 billion tokens of the Dogecoin-killer.\u00a0<\/p>\n The 28 billion Shiba Inu transaction can be traced back to a liquidity provider. Other transactions added SHIB to whale wallets, increasing the allocation to Shiba Inu in their portfolio.\u00a0<\/p>\n Analysts have noted a drop in Shiba Inu\u2019s<\/a> on-chain activity. The transaction count on the Shiba Inu network has dropped 50%, fueling a bearish narrative for the memecoin\u2019s price.\u00a0<\/p>\n Despite new developments in the Shiba Inu ecosystem, the partnership with Welly\u2019s and accumulation by whales, there is a drop in activity. Plummeting transaction volume is considered indicative of a drop in a token\u2019s price.\u00a0<\/p>\n @WalterCripto, a cryptocurrency analyst, has predicted a downtrend in Shiba Inu price.\u00a0<\/p>\n Quick Update for the $SHIB<\/a> army.$SHIB<\/a> has been predicted perfectly by our Trend System (TS), right now is on a downtrend, if you belive on it just wait until reversal.https:\/\/t.co\/GdzXLiEQiC<\/a><\/p>\n \u2014 Walter – TREND RIDER (@WalterCripto) February 4, 2022<\/a><\/p><\/blockquote>\n<\/div>\n FXStreet analysts believe that Shiba Inu<\/a> price could top out around $0.000040.\u00a0<\/p>\n\n