SHIB Tech Indicator Shows Reversal After Predicting 200% Run, 100% of MATIC Holders in Profit, 706 Million SHIB Burned in 24 Hours: Crypto News Digest by U.Today

SHIB Tech Indicator Shows Reversal After Predicting 200% Run, 100% of MATIC Holders in Profit, 706 Million SHIB Burned in 24 Hours: Crypto News Digest by U.Today

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Shiba Inu technical indicator shows reversal after predicting 200% run

With the MACD, or Moving Average Convergence Divergence, the technical indicator giving the first warning of a mid-term reversal, the long-awaited reversal on Shiba Inu may be closer than ever. The reversal was enthusiastically embraced by traders and huge investors who had purchased millions of dollars worth of tokens after the indicator signal occurred.

While this indicates a short-term trend reversal, it does not provide any useful information about the possibility of new movement. Other technical and fundamental on-chain and market indicators indicate that Shiba Inu is currently in a better position than it was during its 70% correction phase.

100% MATIC holders in profit as Ethereum whale acquires 1 million tokens

Data provided by WhaleStats shows that MATIC ranks among the top 10 holdings and top 10 purchased tokens among Ethereum whales over the past 24 hours. This seems to affect the asset's price, as it surged nearly 28% in the last three days, reaching highs of $2.71. According to IntoTheBlock's In/Out indicator, 100% of Polygon holders are in profit at a price of $2.63.

SHIB prints small rise as 706 million SHIB burned in 24 hours

Yesterday, according to etherscan data, eight different addresses sent a total of 706.1 million SHIB to a "null address," or in other words, they burned these tokens. This happened in eight transactions, the largest of which carried 692,937,338 Shiba Inu tokens. Meanwhile, according to CoinMarketCap, Shiba’s rival, Dogecoin, has started showing small signs of growth.

Leading SHIB whale buys 93 million SLP, but SHIB remains top asset in portfolio

According to a recent tweet by WhaleStats, the fourth-largest SHIB whale, dubbed "Light," has bought 93,360,440 SLP, which equals $2,815,687. Smooth Love Potion sits in 448th place on CoinMarketCap, with a market cap of $102,911,390 and a trading volume of $149,893,861. However, the biggest token position in the whale’s portfolio remains Shiba Inu, taking up 36.56% of it, or $1,348,413,820 in fiat.

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