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Whales Make Gains Out Of Solana October Surge, SHIB Enters Consolidation Phase

Whales Make Gains Out Of Solana October Surge, SHIB Enters Consolidation Phase

Nov, 05 2024 16:58
Whales Make Gains Out Of Solana October Surge, SHIB Enters Consolidation Phase

As Rollblock experienced a massive surge during its presale yesterday, the price of Solana (SOL) is heating up, making way for huge profits for crypto whales holding the token. Amidst this Shiba Inu (SHIB) has reached a consolidation phase.

Crypto whales are betting on Solana’s remarkable performance in October. With SOL price prediction indicating that the token might hit the $290 mark by the end of this month, many investors are going for it. The Sharpe ratio of Solana is running in a positive direction suggesting more gains than risks, which is in line with the whales' interest in the digital asset.

Despite the possible slowdown in the SOL/BTC uptrend, long positions will still outnumber short ones which speaks of the cryptomarket’s confidence in Solana. This setup, with bullish funding rates and solid support levels, adds to the excitement for Solana’s potential as it makes the token stand out in front of crypto investors. Most of them will be eagerly noting how SOL fares as the month progresses.

Meanwhile, Shiba Inu (SHIB) has reached a consolidation phase after fluctuating in October. Despite a surge earlier last month, SHIB faced opposition which led to peaks and falls. The volatility of the cryptocurrency is exhibited in the dips it went through after every surge.

However, despite such price swings, Shiba Inu continues to draw crypto investors as it tries to wade through the pattern and rise above the current resistance levels. There could be a possible breakout in the future or as it waits for stabilization after the month-long fluctuations.

As of November 5 evening, SOL is trading at $166.50, up by 2.20% in the last 24 hours with its trading volume gaining nearly 24% to reach $3.16 billion while its market cap stands at $78.42 billion, up by 2.28%.

Meanwhile, Shiba Inu has gained 8.80% over the last 24 hours to trade at $0.00001829 while its market cap stands at $10.78 billion. The trading volume has also increased over the past 24 hours to reach $472.61 million, a 77.03% growth.

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