A major Shiba Inu whale has entered the market, making huge purchases of the cryptocurrency in the past 24 hours. Etherscan.io data revealed a total purchase worth $1.72 million of 168.37 billion SHIB tokens. The whale's buying stretch started off with the acquisition of 9.81 billion SHIB tokens and was followed by another purchase of 158.55 billion SHIB. With these acquisitions, the whale's SHIB holdings have skyrocketed to an impressive 5.25 trillion tokens, worth $54.09 million.
This news has been received with mixed reactions in the cryptocurrency space as it comes days after the top ETH whale "BlueWhale0073" purchased a whopping 311.99 billion SHIB tokens, valued at $3.32 million. This resurgence of interest by whales could be because of the recent developments in the Shiba Inu ecosystem, including the addition of support for SHIB tokens by Lithuanian-based neobanking institution block bank, and partnership with BinancePay and ivendPay to use SHIB as a payment method, at over 400 ivendPay-supported merchants.
Notwithstanding the developments, SHIB is still trading at $0.00001024, incurring a 1.34% reduction compared to the previous day’s trading volume of $130.30 million. This could be due to the market's uncertainty following the whale’s behavior and developments to the ecosystem.
Noah Davis
- 2023-04-25
Whale Purchases $1.72m of Shiba Inu (SHIB) Tokens
A major Shiba Inu whale has entered the market, making huge purchases of the cryptocurrency in the past 24 hours. Etherscan.io data revealed a total purchase worth $1.72 million of 168.37 billion SHIB tokens. With these acquisitions, the whale's SHIB holdings skyrocketed to an impressive 5.25 trillion tokens, worth $54.09 million. This news has been received with mixed reactions.
-Tokens.jpg)