Shiba Inu (SHIB) is again catching crypto whales’ attention, likely due to the recent surge in Pepe (PEPE) prices, which hit a new all-time high. Historically, SHIB and PEPE have shown correlated price movements, prompting investors to shift their focus to SHIB following Pepe’s recent peak.
At the end of May, Shiba Inu’s price declined, accompanied by reduced activity in transactions over $100,000. However, the scenario changed dramatically in June. SHIB’s price began to rise, coinciding with increased transaction activity. The peak occurred on June 6, with 39 whale transactions, up from 18 transactions recorded on May 31. During this period, SHIB’s price also saw a 5% increase.
This renewed interest from whales suggests that significant investors are positioning themselves in anticipation of potential upward movements in SHIB’s price, mirroring the trends observed with PEPE.
