SHIB’s Price Gains More Than 20% in Price Since August 13

• Shiba Inu has posted 23% gains since 13 August.
• Whales may be preparing for a price and volatility spike with SHIB.
• SHIB trades at $0.00001572.

Shiba Inu (SHIB) has posted price gains of over 23% since August 13, 2022. In so doing, SHIB reached a price that the market has not seen in the last few months.

Whales seem to be getting ready for a sudden price and volatility spike when looking at the activity of large addresses. Plenty of large transactions and purchases took place ahead of the latest price spike.

According to data released from the blockchain analytics firm, Santiment, most of the transactions are wallet-to-wallet. This is mainly because whales often use several wallets to redistribute their holdings for better management.

Unfortunately, the trading volume for SHIB over the past 24 hours suggests that some traders sold their holdings, resulting in an immediate move in the price of the token.

As seen from the 4-hour chart for SHIB/USDT, the price of SHIB has dropped by more than 7% since its 4-hour candle open three candles ago.

At the time of writing, CoinMarketCap does show that SHIB’s price has recovered slightly, suggesting that it is at a support zone. According to CoinMarketCap, SHIB’s price is up more than 1% at 1.23% over the past 24 hours.

SHIB has also strengthened against the two market leaders, Bitcoin (BTC) and Ethereum (ETH), by 3.80% and 6.35%, respectively. SHIB’s price also set a 24-hour low of $0.00001572 and a high of $0.00001774 and is currently trading at $0.00001572.

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