Shiba Inu bulls are back, with on-chain data indicating heavy accumulation among the meme coin’s investors. Specifically, a 512 billion SHIB transfer has drawn the attention of the crypto community, sparking bullish sentiments towards the meme coin, which has underperformed so far.

Shiba Inu Bulls Spark SHIB Accumulation Theory With 512 Billion SHIB Transfer

Etherscan data shows that a Kraken hot wallet moved just over 512 billion SHIB ($7.14 million) to an unknown wallet (0x95a…4C4cE), sparking speculations that Shiba Inu bulls are actively accumulating the meme coin. Typically, a move from a hot wallet to what is possibly a cold wallet indicates that investors are looking to hold the crypto asset for the long term.

Notably, thanks to this 512 billion transfer, the unkno

See Full Page