Shiba Inu (SHIB) Tweets Winning Message Following 30% Price Increase

Key Points:

• SHIB price increased by over 30% on February 4, the official Shiba Inu (SHIB) Twitter account published a “winning” tweet.
• The token is aiming to record its sixth straight day of gains as it is also up 30% over the last seven days. The enormous increase in SHIB pricing could be attributed to advantageous technical considerations. SHIB’s price increased after a bullish pennant was resolved.
• Whales or substantial holders may also have contributed to the price increase. The largest increase in recent weeks or even months was seen in large transactions, which are classified as those that exceed $100,000, which shows a startling 472% surge.

SHIB price increased by over 30% on February 4, the official Shiba Inu (SHIB) Twitter account published a “winning” tweet. The tweet, which featured the Shiba Inu mascot holding and proudly showing off a prize, sparked enthusiasm among Shiba Inu breeders.

Shiba Inu was one of the top gainers on February 4 as its price increased to $0.00001590 intraday highs. SHIB was up 10% at $0.0000152, despite some of the gains having significantly slowed.

The token is aiming to record its sixth straight day of gains as it is also up 30% over the last seven days. The enormous increase in SHIB pricing could be attributed to advantageous technical considerations. SHIB’s price increased after a bullish pennant was resolved.

On February 2, cryptocurrency researcher Ali Martinez identified a bullish pennant pattern on the coin’s chart and forecast that its price would increase to around $0.000017 before it experienced a major gain.

As seen by the fact that Bone ShibaSwap (BONE) also had a nearly 40% increase on February 4, confidence about the impending Shibarium appears to have influenced its fundamentals. Unification, a Shibarium developer, provided an update on the Layer 2 solution and stated that “while the public beta network has not yet been launched, that day is swiftly approaching ever closer.”

Large transactions increase by astounding 472%

Whales or substantial holders may also have contributed to the price increase. The largest increase in recent weeks or even months was seen in large transactions, which are classified as those that exceed $100,000, which shows a startling 472% surge.

The purchasing or selling activity of whales is usually proxied by large transactions. This statistic may indicate exceptionally active whales if it dramatically increases. According to the Shibburn website, there have been nine transactions and a total of 13,518,918 SHIB tokens burned in the last 24 hours. This is a 67% increase in the SHIB burn rate.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.

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