Bitcoin 
Ethereum 
Tether 
Solana 
BNB 
XRP 
Dogecoin 
USDC 
Lido Staked Ether 
Cardano 
TRON 
Avalanche 
Shiba Inu 
Wrapped Bitcoin 
Wrapped stETH 
Toncoin 
Sui 
WETH 
Bitcoin Cash 
Chainlink 
Pepe 
Polkadot 
LEO Token 
Stellar 
NEAR Protocol 
Litecoin 
Aptos 
Wrapped eETH 
Uniswap 
USDS 
Cronos 
Hedera 
Internet Computer 
Ethereum Classic 
Bonk 
Render 
Bittensor 
Kaspa 
Ethena USDe 
WhiteBIT Coin 
POL (ex-MATIC) 
Dai 
Artificial Superintelligence Alliance 
MANTRA 
dogwifhat 
Arbitrum 
Monero 
Stacks 
OKB 
Filecoin 
Shiba Inu whales are on the move again, sparking speculations on what they expect from the meme coin. One whale, in particular, has caught the attention of the SHIB community following a massive withdrawal from the popular crypto and stock trading exchange Robinhood.
Whale Pulls Out Almost $40 Million From Robinhood
The Shiba Inu whale transactions that have got tongues wagging were first picked up on June 20 by the on-chain whale tracking platform Whale Alert. According to the report, the whale had removed a total of 2,2 billion SHIB from the exchange, which was worth approximately $40 million at the time of this transfer.
Related Reading
The whale moved the coins to an unknown wallet, something that could be bullish for the price. This is because when whales move their coins to exchanges, they intend to sell, which might push the price down due to the selling pressure. However, when whales remove their coins from exchanges, it could mean they don’t plan to sell and are holding for better prices.
In this case, the whale has gone the way of the latter, suggesting accumulation rather than selling. Also, given the sheer volume of coins being withdrawn from the Robinhood exchange, it has removed a significant amount of supply from the open market from now.
However, the whale transaction hasn’t had much of an impact on the price. The SHIB price is still trading under $0.00002 at the time of this writing, although this presents ample opportunity for these investors looking to get in at cheap prices.
Shiba Inu Still Has Legs
Despite the price decline that has rocked the meme coin in recent times, expectations have not waned as analysts forecast another crypto bull market. One of those who still see a bright future for the meme coin is Shiba Inu marketing lead LUCIE.
Related Reading
According to LUCIE, SHIB is still in a position. Sharing a Wall Street Cheat Sheet, she shows that the meme coin is now in the period just before Optimism. Now, the Wall Street Cheat Sheet shows that this is when investors really begin to believe that the rally is real.
From here, the price is expected to keep going up as investors go through the motions of Belief, then Thrill, and finally Euphoria, before prices start to correct. If LUCIE is right, then the real rally is yet to begin and the Shiba Inu price could go so much higher.
At the time of writing, the SHIB price is struggling to reclaim the $0.000018 support from the bears. However, with the Bitcoin price failing to move upward, the weekend could bring further declines for the market.
Featured image created with Dall.E, chart from Tradingview.com
