Shiba Inu coin accumulation by whales continues as the meme coin prepares to break out. The DOGE-killer is trending on social media, second to Bitcoin BTC in popularity.

A large wallet investor identified as an Ethereum ETH whale spent $1.2 million and bought 49.9 billion SHIB Inu tokens on Binance earlier today. Shiba Inu's price plunged after a massive rally in the SHIB coin; whales accumulated the Dogecoin-killer throughout the dip.

Shiba Inu accumulation by whales continues

Historically, a dip in Shiba Inu price is followed by whale accumulation and a second leg up. Traders are expecting another bull run in SHIB token. 

Updates in the Shiba Inu ecosystem include the naming feature for “Shiboshis” (10,000 NFTs minted on ShibaSwap) and the ability to purchase the Shiba Inu across Coin Cloud ATMs. 

Coin Cloud is considered the world’s largest crypto network of two-way digital currency machines, with 4000 ATMs across the US and Brazil. The ATM network now supports Shiba Inu. This makes the SHIB token more accessible for users and boosts its utility. 

Shiba Inu's popularity among traders on social media hit a peak with its massive price rally. The memecoin’s social dominance is second to Bitcoin, and CoinGecko has listed SHIB token as one of the top 10 trending cryptocurrencies in Asia (Oct 1-Oct 15). 

@army_shiba, a crypto analyst and Shiba Inu trader, expects the altcoin’s price to increase 100% and hit the next target of $0.00005 level. 

analysts have evaluated the SHIB price trend line and predicted that Shiba Inu would resume its bull trend as it trades on a stable support.

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