A Shiba Inu whale collects 50 billion Shiba Inu in one day!

The whales were also awakened by the hype surrounding the Shibarium upgrade. According to CoinGecko, this has helped the token gain 14% over the two-week period and is currently trading at $0.00001312.

The day after Valentine’s Day, the whales accumulated over 50 billion SHIBs worth over $600,000 at the time of the transaction. This comes after the same whale disposed of some 70 billion SHIB last week, valued at about $956,200.

Last week, the broader financial market crashed, with stocks and crypto-currencies suffering losses. This was caused by uncertainty in the macroeconomy of the United States and the world as a whole.

Increased whale activity and improved macroeconomy

SHIB has been a favorite of whales for a long time. According to WhaleStats data, the token is the third most held crypto-currency with an average amount held of over $6.8 million.

At the time of writing, Whale holds a number of 13.7 trillion SHIBs worth approximately $187,600,000.

The recent accumulation of whales may be a sign that whales are willing to take more risks for long-term gains. This reversal of positive sentiment came after the release of the monthly Consumer Price Index report.

The Federal Reserve recently released several macroeconomic indicators that show some improvement in macroeconomic conditions. The monthly CPI was flat at 0.5% and the annual CPI rose from 6.5% to 6.4%.

Consumer spending also increased, showing that individuals are more confident in the macroeconomic situation. These are signs of the Fed’s aggressive quantitative tightening measures.

However, with CPI remaining high, the central bank could decide on further interest rate hikes. This hawkish sentiment has already been explored, with the Fed considering further interest rate hikes since its last rate hike.

Shibarium update for an upcoming release

Shytoshi Kusama recently posted on Twitter that the network update is on its way out. This update could happen in early March, instead of the planned Valentine’s Day date.

With Shytoshi Kusama publishing the first blog post about the network update, we could see a big price move for SHIB on release day.

At $0.00001192, bulls should break through this level.

The token’s current momentum is halted in its tracks by the resistance level at $0.000014. This resistance, if not broken in a shorter time frame, could limit SHIB’s short to medium term target. For now, investors and traders should continue to target this resistance for a larger move higher.

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