• SHIB had the potential to remain significant in the long-term based on the technical outlook and its disruption of the crypto market.
• Despite trailing in the negative direction for a large part of the last year, institutional investors, including Binance, owned the meme token in their portfolio.
• Despite possible sell offs, SHIB did not succumb to selling pressure and has potential to price higher than it currently is.
Shiba Inu’s Last Year Performance
Shiba Inu [SHIB] had an eventful 2021 with potential to remain significant in long term based on its technical outlook and disruption of crypto markets. Institutional investors, including Binance, held SHIB in their portfolios despite trailing in the negative direction for a large part of last year.
Voyager Transfers $3.2 Million Worth of Token
On 2 February, crypto broker Voyager transferred $3.2 million worth of SHIB tokens to several exchanges as disclosed by Lookonchain. However, Etherscan showed that Voyager still held about 6.8 trillion SHIB which could imply that they were long-term believers in the coin.
FOMC Raised Interest Rates Impact On Token
The FOMC raised interest rates by 0.25 which had a short-lived impact on cryptocurrencies including SHIB according CoinGecko which was exchanged at $0.000012 — a 4% increase in 24 hours leading then up until press time.
Potential For Profitability In Long Term?
With bullish momentum from Awesome Oscillator (AO) and Exponential Moving Average (EMA), there was potential for SHIB course to remain in buying control with twin peak formation already formed indicating expensive bullish stance ahead . This could help make it profitable in long term if whales‘ attention doesn’t affect it too much negatively otherwise .
Whales Attention Locked On Token
Whale Stats indicated that despite probable selloff, whales have locked their attention on this token and trend might mean that it might be eternal for these lots thus making this an attractive investment opportunity for those seeking returns over time .