FET Token Set to Skyrocket? Shiba Inu Millionaire Makes Big Bet

The highest token of the Synthetic Intelligence (AI) Synthetic Superintelligence Alliance (FET) seems to be to skyrocket as an early Shiba Inu purchaser trades his dropping SHIB for the rising FET token. On August 31, 2024, a Whale who beforehand earned $145 million from SHIB exchanged his 255.62 billion SHIB tokens price $3.5 million for 3.114 million FET, as reported by on-chain analytics firm Spotonchain.

SHIB to FET token: whale exchanged a million SHIB

This notable shift from SHIB to FET is creating purchase alerts within the struggling cryptocurrency market.

In a put up on Nevertheless, the whale’s current buy of 968.3 billion SHIB tokens didn’t go effectively, leading to an unrealized lack of over $11.5 million.

However given the market sentiment and the current efficiency of the FET token, he has traded his SHIB particle stake. At present, this whale shill holds 713 billion SHIB tokens price $10 million.

FET worth prediction

In accordance with skilled technical evaluation, FET is at an important help stage at $1.10 after being rejected from the 200 Exponential Shifting Common (EMA) on a day by day timeframe. Nevertheless, the present worth motion seems to be forming a bullish upside-down head and may type a worth motion sample.

Based mostly on the historic worth momentum, there’s a good probability that the worth might rise by 30% to the $1.46 stage. Nevertheless, if the worth fails to carry the $1.10 stage, the worth might fall by 30% to the $0.751 stage.

Open curiosity and worth evaluation

On the time of writing, FET is buying and selling across the $1.175 stage and has skilled a worth improve of over 2% within the final 24 hours. Throughout the identical interval, main cryptocurrencies together with Bitcoin (BTC), Ethereum (ETH) and Solana (SOL) have struggled to realize momentum.

In the meantime, FETs open interest is down 4% within the final 24 hours, indicating decrease curiosity from merchants on account of present market sentiment.