• Shiba INU (SHIB) price is climbing towards the north despite the current turbulence in the crypto sphere.
• Despite the Whales dump on Shiba INU, the price continues to display enough strength and high probability to go long very soon.
• The crypto markets continue to trade under a bullish influence despite another bankruptcy struck-in.
The crypto markets have been quite active lately with the Bitcoin price continuing to trade close to the crucial levels around $21,000. As prices of the leading cryptocurrency have stayed strong, other major altcoins have also managed to remain resilient despite some turbulence. One such altcoin that has managed to stay afloat is Shiba INU (SHIB).
Today, SHIB is showing positive momentum and is climbing towards the north despite the current turbulence in the crypto sphere. This is quite remarkable considering that the whales have been dumping massive amounts of tokens worth $5.1 million in a single transaction. Despite this, SHIB prices continue to trade above the gained levels of around $0.000011.
The strong performance of SHIB can be attributed to the recent Shibarium network update which has propelled the coin to new heights. In addition to this, SHIB is also the most-held token by the top 100 Ethereum whales, which could be another factor behind the coin’s strong performance.
Despite the current pullback, SHIB prices continue to hover within the ascending rising channel formation, displaying enough strength for the bulls to hold the selling pressure. This is a positive sign for SHIB and could be indicative of further upside potential.
Overall, the crypto markets continue to trade under a bullish influence despite another bankruptcy struck-in. This is a positive sign for the future of cryptocurrencies and could be indicative of further upside potential in the near future. With SHIB prices continuing to stay afloat, investors should watch out for more positive signals from the crypto sphere.