Shiba Inu Whale Snaps Up 220 Billion Tokens – $1 SHIB Possible?
Shiba Inu (SHIB) has been on a tear since the start of 2025, benefitting from a broad crypto market rally ahead of the arrival of the pro-crypto Trump administration in the White House on January 20th.
The SHIB price was last just above $0.000024, up 14% in the past three days, but a recent jump in whale activity suggests more upside could be in store this month.
Per Lookonchain, a whale withdrew 220 trillion SHIB token worth $4.6 million after being dormant for five months earlier this week.
ng=”en” dir=”ltr”>A whale withdrew 220B $SHIB($4.63M) from #Binance 2 hours ago after being dormant for 5 months.https://t.co/vHHs25C754 pic.twitter.com/r0sFEXMyEC
— Lookonchain (@lookonchain) January 1, 2025
Whales are often viewed as “smart money” buying when prices are favorable, risk-reward is good and the likelihood of a near-term rally is high.
As such, some might interpret this whale’s recent move as a buy signal.
Shiba Inu Chart Analysis Also Suggests More Upside
Chart analysis also suggests more upside for the Shiba Inu price in the weekend and months ahead.
In the past two weeks, SHIB has found strong support at its uptrend from the summer 2024 lows.
It also recently saw a strong bounce from its 200DMA last month, and on Friday rose back to test key resistance around $0.000024.
Simple chart analysis thus suggests a recovery back to December highs in the $0.000033s is on the cards.
Fundamentals arguably support the case for more upside in the coming weeks.
The incoming and avidly pro-crypto Trump administration will arrive in the White House in just over 2 weeks, signaling the start of a new golden age for the US crypto industry and markets more broadly.
Hopes are high that Trump, or Congress, establish a strategic Bitcoin reserve, which would kick start a global accumulation rate, injecting huge liquidity into the crypto markets.
Altcoins pumped after the U.S. elections.
Altcoins will explode after the Trump Inauguration. pic.twitter.com/Lqs4BFgfTt
— Crypto Rover (@rovercrc) January 3, 2025
More broadly, a pro-crypto regulatory environment is conducive of rapid crypto and adoption of major altcoins, like Ethereum.
This could help to spur accelerated inflows into Ethereum ETFs, benefitting Ethereum ecosystem meme coins like Shiba Inu (SHIB) or Pepe (PEPE).
At any moment, meme coin season could come rushing back, and as one of the leading coins in the space, SHIB would be a major beneficiary.
How High Could SHIB Go?
SHIB’s market cap was last around $14 billion, per CoinMarketCap, leaving it still down over 70% from its 2021 record highs.
A 4x rally back to record highs is certainly on the cards as the current bull market matures.
Whether SHIB can go on to fly beyond its prior highs and towards a market cap of around $100 billion remains to be seen.
Shiba Inu has a massive and dedicated community of investors, and with its large and growing web3 ecosystem, it certainly deserves its current market cap.
But, for a $100 billion market cap to be achievable, the crypto markets would likely need to become highly emotional and irrational. And we remain a long way from this point.
A better way to bag 10x or more gains in meme coin markets might be to invest in newer, smaller and lesser-known meme coin with lots of growth and vitality potential.
Analysts at cryptonews.com think a new DAO-powered vote-to-earn meme coin called Flockerz (FLOCK) could be just the ticket.
🔥 The Flock Don't Stop! 🔥
With just 25 days left in the presale, The Flock continues to show its strength, with 8M raised!
What a proud day for all of Flocktopia 🐦🔥 pic.twitter.com/GA7JDEt4YX
— Flockerz (@FlockerzToken) December 27, 2024
The FLOCK presale has already raised a massive more than $8.6 million, with massive demand a sign that this meme coin could really pop when it launches soon.
Popular crypto YouTuber ClayBro discusses why FLOCK has massive upside potential in the video below.
Source: cryptonews.com
