In the last 24 hours, Crypto Whales have gone on a buying spree, allocating more than 4o.81 million USD in Shiba Inu (SHIB), one of the most widely held tokens apart from Ethereum (ETH). Reportedly, a single ETH Whale known as “BlueWhale0073” has made the largest single transaction, buying 229.96 billion SHIB and making the total purchased amount to 3.73 trillion.

Besides this purchase, a new ‘Shiba Inu Whale’ emerged, to become the 30th biggest holder of SHIB, and purchased a staggering 3.50 trillion SHIB, with a value of 40.23 million USD. All in all, the top 100 ETH Whales posses $601.20 million worth of SHIB tokens collectively.

In addition to the Whale spending reported by WhaleStats, a mysterious wallet allegedly transferred a sum of 6.08 trillion SHIB, amounting to $65.44 million USD, to a Coinbase-associated wallet on April 3rd.

A hypothetical burn computation proposed by experts suggest that if Shiba Inu works in tandem with ShibaSwap, Shibarium, and virtual land renames to reduce the supply, it could successfully burn about 111 trillion in SHIB per year, helping it reach a value of 1 USD.

Overall, the Whale spending for the last 24 hours and the various innovative ways that SHIB measure the supply have increased the confidence of the traders in the market. This has been a major confidence boost for the investors in the market, so these types of activities, if maintained, could further bolster the long-term success and sustainability of SHIB in near future.



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