Whales Abruptly Move Over $305,000,000 Worth of Shiba Inu and Ethereum – Here's Where the Crypto Is Going

Crypto whales have transferred Ethereum (ETH) and Shiba Inu (SHIB) worth hundreds of millions of dollars in multiple transactions that occurred within hours of each other, according to the blockchain tracker Whale Alert.

Timeline of Ethereum, Shiba-inu

Shiba Inu (SHIB) is gaining momentum in its efforts to reduce its token supply, and this was evident in its latest performance. Over the past 24 hours, a total of 12,143,493 SHIB tokens were sent to inactive wallets, marking a 105% increase compared to the previous level.

The Shiba Inu burn initiative continues this week but with a drastic decline in volume. The latest figure which shows a decreased participation from investors could have long-running significant implications for the SHIB price.

Before it becomes foundational infrastructure for the next stage of the internet, there are three risks that the blockchain needs to avoid, says Paul Brody, head of blockchain at EY.

Ethereum (ETH), the second-largest crypto by market capitalization, has been in the spotlight due to its price action. A notable crypto analyst, Pentoshi, shed light on the asset's price trajectory, suggesting a possible uptick in value if current conditions prevail.

The pseudonymous lead developer of the Shiba Inu team known on social media as Shytoshi Kusama has posted a cryptic message on the Shibarium Tech channel on Telegram and at the same time he spread the word that he is doing well, despite the recent silence on this platform.

As another week opens with the largest part of the cryptocurrency market trading in the green, Shiba Inu (SHIB) has slowed down a bit and is consolidating its gains from recent days. However, signs suggest that the current correction is only temporary and that its uptrend could continue by the end of this year.

Technical Analysis By Shayan Last week, Ethereum displayed an interesting sign by surpassing the 100-day moving average, indicating the growing interest. However, a significant hurdle lies ahead, represented by the 200-day moving average.

Developers of the Shiba Inu project have initiated a ‘surprise' step towards a unique SHIB self custodial identity. This leaves scope for a potential SHIB price rally in the lead up to the countdown.

Shiba Inu Price Prediction: On October 19, the Shiba Inu price rebounded off the lower trendline of a falling wedge pattern at the $0.00000776 level. This reversal signed with a broader market recovery propels the coin by 17.4% to its current trading price of $0.0000076.

The Shiba Inu coin, once relatively quiet, has sprung to life in a remarkable rally. Experiencing a surge in both value and activity, it's broken multiple records this week. Notably, its Shibarium network has seen a notable uptick, with a staggering 493% rise in transaction volume in just one day.