Whale Accumulates 229 Billion Shiba Inu Tokens, What’s Next?

Recently, whales accumulated 3.73 trillion Shiba Inu (SHIB) within 24 hours at the cost of $42.81 million. Blockchain data provider WhaleStats reported that the first whale purchased 3.50 trillion SHIB tokens, while the second whale purchased 229.96 billion SHIB tokens in a single transaction. 

Whale Purchased 229.96 Billion SHIB In A Single Transaction 

According to WhaleStats, ‘BlueWhale0073’, rated as the 254 biggest ETH Whale, amassed 229.96 trillion SHIB tokens within 24 hours by spending $2.58 million in a single transaction. This transaction from the whale stands as the second-biggest Shiba Inu buy transaction over the past 24 hours.

The leading SHIB buy transaction came from a new Shiba Inu whale who ranks as the 30th biggest SHIB holder as per Etherscan. The new whale bought about 3.50 trillion SHIB tokens worth $40.23 in a single transaction. Also, the new whale is reported to be exclusively holding SHIB tokens.

Further, WhaleStats disclosed that Shiba Inu now ranks as the third most-held cryptocurrency, excluding Ether, among the leading 100 ETH Whales. SHIB is behind USDC and USDT, the first and second most held tokens. The top whales hold over $601.20 million worth of Shiba Inu (SHIB) in their wallets. 

Besides the large purchases of the SHIB tokens, other whales have made massive transactions involving Shiba Inu this week. 

According to data from Whalealert on April 3, an unknown wallet transferred 1.92 trillion SHIB tokens worth $20.5 million to another unknown wallet. Also, an anonymous wallet moved 2.24 trillion SHIB tokens worth $24 million to another unknown wallet.

Shiba Inu Price Performance

CoinMarketCap ranks SHIB as the 14th top crypto asset with a market cap of $6.60 billion. At the time of writing, SHIB is trading at $0.00001136, indicating a drop of 0.31% over the past 24 hours.

Shiba Inu’s price action for the past 1 hour shows an increase of 0.21%. Also, the token surged by 4.73% and 2.65% over the past 7 days and 30 days, respectively. The second largest meme coin, Shiba Inu, has been catching the attention of global Investors.

Shiba Inu has witnessed a surge in ecosystem activities since the beginning of 2023. According to a crypto analyst, SHIB recorded a huge surge in daily active addresses. The surge in Shiba Inu activity is also connected to the launch of the Shibarium Public Beta Testnet, Puppynet. Puppy Scan data reveals Puppynet boasts over 100,000 wallets and over 800,000 transactions

Additionally, CoinMarketCap reported tremendous growth in CMC users with SHIB in their watchlist. The report noted more than 1.84 million CMC users have Shiba Inu on their watchlist for monitoring the price trend of the coin.

Featured image from Pixabay and chart from Tradingview.com