A whale that had been accumulating SHIB tokens for two months has dumped all of its holdings and is now favoring a bearish Shiba Inu price prediction—is this meme coin set to drop to $0? Data from Arkham Intelligence shows that this whale wallet used Coinbase Prime to acquire 202.48 billion SHIB tokens two months ago when the price was sitting at around $0.00001200. The position should have been worth around $2.4 million at the time. Two days ago, that same wallet dumped its entire stake in this cryptocurrency and may have turned a $200,000 profit. The timing for this dump is interesting as Shiba Inu is approaching its 200-day exponential moving average (EMA), a technical indicator that tends to signal the trajectory of an asset’s long-term trend. Did this whale receive a sell signal in its trading interface that triggered the sudden closing of such a large position? Shiba Inu Price Prediction: SHIB’s Price Action Favors a Bullish Outlook Despite Bearish Whale Activity Although this whale’s big sale may be considered a reason to hold a bearish Shiba Inu price prediction , the latest price action indicates otherwise. SHIB seems set to retest the trend line resistance of a descending price channel that has been forming for months. If we get a bullish breakout within the next few days, which seems to be the case based on how the token has been performing lately, SHIB could move to $0.00004567 first and then deliver huge gains exceeding 1,000% after a brief retest of that key area from above. In the past 7 days, the token has accumulated a 14.3% advance. Meanwhile, trading volumes have increased by 36% in the past 24 hours despite this whale activity. The Relative Strength Index (RSI) has jumped above the mid-line, favoring a bullish outlook, and we could expect a move above $0.00001600 shortly to confirm SHIB’s trajectory toward making a higher high. It is highly unlikely the Shiba Inu’s market cap will drop to $0 despite this recent sale. The latest price action indicates that the token’s trajectory continues to be upward and market conditions favor this positive outlook as well. Meme coins could deliver the biggest gains during this cycle as tokens like Pudgy Penguins (PENGU) seem poised to get their own exchange-traded fund (ETF). The best crypto presales in this sector like Token6900 (T6900) could outperform the rest as investors’ appetite for risk grows. Token6900 (T6900) Presale Nears $2M Raised as Its 2000s Nostalgia Draws Significant Interest Token6900 (T6900) is everything that meme coins should be. A community-centered project fueled by pure ‘vibe liquidity’ and an eager desire to break the cycle. Since the project was launched a couple of months ago, investors have poured over $1.9 million into it as it embodies the rallying cry of an entire generation. T6900 is what happens when you stare at crypto charts for too long. It is the answer to existential questions that you didn’t know you had. It is the intersection between reality and fantasy. This token makes no promises, has no roadmap, and offers no incentives. Those who believe will be rewarded handsomely. T6900 is hard-capped at $5 million. Investors who get in early will make the most out of it. To buy $T6900 and start believing, head to the Token6900 website and connect your wallet (e.g. Best Wallet ). You can either swap USDT or ETH for this token or use a bank card to invest. Click Here to Participate in the Presale The post Shiba Inu Price Prediction: 200 Billion SHIB Whale Dump Hits Coinbase – Is SHIB Going to $0? appeared first on Cryptonews .
