- Whales increase their activity on Shiba Inu, pushing SHIB 30% higher over the past week.
- Large value transactions, worth $100,000 or more, increased on the Shiba Inu network.
- Analysts have a short-term bullish stance on Shiba Inu after the meme coin hits the $0.00001550 target.
As the Ethereum Merge draws close, retail enthusiasm and optimism pushed meme coin prices higher. Dog-themed cryptocurrencies Shiba Inu and Dogecoin started an explosive rally, ahead of the long awaited Merge.
Also read: Shiba Inu edges Avalanche with explosive 16% gains, SHIB holders rejoice
Shiba Inu whale transactions push SHIB higher
Shiba Inu offered holders 30% gains over the past week. Ethereum core developers set September 15, 2022 as the tentative date for the Merge, fueling enthusiasm among investors. Retail enthusiasm has spread to dog-themed cryptocurrencies, Shiba Inu and Dogecoin.
Whale activity on the Shiba Inu network exploded over the last four months. The network witnessed a total of 433 transactions valued upwards of $100,000.
Shiba Inu whale transactions
Retail investors are back in action, pushing SHIB price higher
Hayden Hughes, chief executive of social-trading platform Alpha Impact, said,
Dogecoin and Shiba Inu have both broken out over the weekend, clear evidence that the retail investor is back.
The optimism among retail investors from Ethereum’s Merge has fueled a bullish sentiment in dog-themed cryptocurrency holders.
Analysts at FXStreet believe Dogecoin’s price rally exhibits signs of exhaustion. For more details and price targets, check the video below: