Shiba Inu Price Eyes 300% Rally as SHIB Whale Activity Surges, a Bullish Development for the Second-Largest Meme Coin by Market Cap

Other on-chain metrics also paint a bullish for SHIB and indicate that its bull run could begin anytime from now.

CryptoSlate analysis shows that the Shiba Inu (SHIB) price could rally as much as 300% as SHIB whale activity is on the rise, a bullish development for the second-largest meme coin by market cap. Other on-chain metrics also paint a bullish picture for SHIB and indicate that its bull run could begin anytime from now.

Shiba Inu Price Eyes 300% Rally

In an exclusive CryptoSlate post, crypto analyst Javon Marks predicted that the Shiba Inu price could soon record a 300% rally. This came as he noted that the top meme coin is still fresh off a confirmed Hidden Bull Divergence and holding above the level it recently broke out from.

In line with this, the analyst stated that SHIB could be getting ready for its “next level” performance, which could send its price towards the $0.000081 target. He added that this over 300% rally could be imminent.

A Shiba Inu price rally to the $0.000081 target is significant as it could pave the way for the second-largest meme coin to reach and possibly surpass its current all-time high (ATH) of $0.000088. Meanwhile, this SHIB rally looks imminent, considering that the meme coin is currently playing catch up to DOGE, which is on a roll at the moment.

The Dogecoin price is up over 23% in the last seven days. Meanwhile, SHIB has recorded a single-digit gain of just over 5% during this period. Shiba Inu is expected to enjoy more significant gains soon enough since it typically mirrors DOGE’s price gains.

SHIB Whale Activity Surges

Marks kicked off his analysis by highlighting SHIB whale activity, which has seen a notable surge in recent times. As earlier reported by CryptoSlate, SHIB whales have been accumulating billions of SHIB tokens from major crypto exchanges.

The crypto analyst noted that SHIB whales have been observed to be buying up the meme coin “nonstop” since early February. He added that these whales have been spotted making large over-the-counter (OTC) trades and scooping up SHIB tokens from major crypto exchanges.

notably, the last time SHIB whales were seen to be accumulating at this level was during the meme coin’s bull run to an ATH in October 2021. This accumulation played a key role in driving SHIB’s massive price surge at the time.

Now, with SHIB whales once again ramping up their accumulation, it appears that they are preparing for another bull run, which could see SHIB’s price rally by over 300% to reach the $0.000081 target.

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