Shiba Inu (SHIB) Just Hit a 13-Month Low, Yet Whales Spent $10.4 Million Grabbing More, Possibly Betting on a Slow Comeback.

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Shiba Inu (SHIB) has hit a 13-month low, but a massive purchase by whales might be signaling a slow comeback for the token. Meanwhile, Pi Coin (PI) is seen holding around $0.74, with analysts projecting a sharp 291% bounce before the month ends. However, one token is already offering something more concrete—12 live AI tools.

Shibainu Is Heating Up Again As GIANT Purchase Hits SHIB At 13-Month Low

Shiba Inu (SHIB) has just fallen below the $0.00001 mark, setting a 13-month low for the token. However, despite the downturn, large holders, known as whales, have made a significant move.

Data from blockchain analytics service Etherscan reveals a staggering purchase of 874 billion SHIB, valued at approximately $10.4 million, by a single wallet. This massive acquisition is a clear indication that whales are keen on accumulating more Shiba Inu at this price point.

The purchase, which occurred on Wednesday, saw the wallet acquire 374 billion SHIB in a single transaction at an average price of $0.00001. Subsequently, the wallet carried out five more transactions to buy the remaining 500 billion SHIB, with the final transaction taking place at 11:03 AM ET.

Following the purchases, the wallet, which is linked to the crypto exchange Bittrex, proceeded to transfer the entire SHIB holding to another wallet.

SHIB has been performing poorly in recent times, with market jitters tied to global tensions being a major factor in the downturn. However, the huge purchase by whales might be a sign of long-term optimism.

Some retail traders might be seeing the low price as an opportunity to enter the token. However, anyone considering investing in SHIB should carefully assess the risks involved and conduct their own thorough research before making any investment decisions.

Pi Network Token Price Prediction: Can PI Jump 291% This Month?

Pi Coin (PI) is currently trading around $0.74, a significant decline from its February high of $2.98. However, analysts at Benzinga are predicting a sharp rebound for the token, with their price targets showing a rise to $2.83 by May 26.

Chart analysis by Benzinga Pro indicates that Pi Network is approaching the lower boundary of a falling wedge, which could be a sign of an upcoming price reversal. Moreover, the relative strength index (RSI) is also indicating oversold conditions for the token.

However, there are some factors that could hinder Pi Network's recovery. Token unlocks are expected to exert downward pressure on the price, while the lack of major exchange listings could limit the token's liquidity and hamper its ability to sustain any gains.

Overall, Pi Network presents a high-risk investment opportunity with the potential for significant gains but also carries the risk of further price declines.

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