This Shiba Inu On-Chain Metric Could Signal Future Price Rallies: Crypto Analytics Firm Santiment.
20 Oct 2021, 08:00
This Shiba Inu On-Chain Metric Could Signal Future Price Rallies: Crypto Analytics Firm Santiment
Digital asset analytics firm Santiment says that traders should keep a close eye on one on-chain metric that can potentially signal major rallies for meme crypto asset Shib Inu (SHIB)
Santiment tells its 109,100 Twitter followers to watch the number of SHIB whale transactions exceeding $100,000.
“When these transactions come in bunches, price rises generally follow.”
Source: Santiment/TwitterShiba Inu is exchanging hands at $0.000028 at time of writing, up 112.4% in the past two weeks, according to CoinGecko.
SHIB received a boost last month when Coinbase added support for the Ethereum-based memecoin across all platforms. Earlier this month, Tesla CEO Elon Musk tweeted a photo of his Shiba Inu puppy, igniting another rally for the Dogecoin (DOGE) competitor.