A recent surge in Whale activity has seen the acquisition of huge amounts of Shiba Inu tokens by 'BlueWhale0073'. Within the last three days, the #254 ranked ETH Whale has purchased an incredible 378.74 billion SHIB. This represents a total transaction value of $4.23 million. Such buying sprees have been credited to the continuous positive developments that the Shiba Inu ecosystem is currently undergoing.

Crypto.com recently rolled out support for Shiba Inu, introducing a BONE/SHIB trading pair on its platform. On the other hand, New York-based multi-asset trading platform Uphold revealed its impressive Proof-Of-Reserves data, with approximately 921.09 billion SHIB in its reserve.

Meanwhile, decentralized trading platform DODO partnered with Alchemy Pay for the purchase of Shiba Inu with fiat currency, further expanding its user base. Despite these strides, the SHIB price has remained at around $0.00001095, with a 24-hour trading volume of $207.15 million.

Whale activity not only has the potential to act as a price indicator of a cryptocurrency but can also prompt an increase in demand. These investors, with the help of sophisticated software, can predict or speculate whether their decision to accumulate SHIB tokens over a short duration can change its trajectory.

Nevertheless, a key question remains: when will Whale purchases affect the SHIB price enough to continue the trend? For the time being, only time will tell.



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