ETH Whales Purchase Half a Trillion Shiba Inu Tokens in 24 Hours: Is a Price Surge Coming?
Ethereum whales have been making waves in the Shiba Inu (SHIB) market, accumulating massive amounts of the popular meme token. Recent data indicates that ETH whales have purchased more than half a trillion Shiba Inu tokens in the last 24 hours, sparking speculation about a potential price surge. In fact, In the last 24 hours, Shiba Inu whales moved a staggering 15.1 trillion SHIB tokens, valued at approximately $253.05 million.
Massive SHIB Transactions by Top Whales
The activity isn't limited to just a few wallets. Within a 24-hour window, whales moved over 12.16 trillion $SHIB tokens, buying the dip in anticipation of a price increase. 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. SHIB’s infamous whale ‘Gimli’ also likely contributed to the substantial volume.
Trillions of SHIB Tokens on the Move
The scale of these transactions is staggering. Over a trillion Shiba Inu tokens were traded in the previous 24 hours, and whales amassed more than a trillion of them. On that day, whaleswallets holding at least 0.1% of SHIB’s circulating supplyadded 165.51 billion SHIB. The next day, March 29, they acquired an additional 148.6
Why Are Whales Accumulating SHIB?
Several factors could be driving this whale accumulation. The decision seems to be made in response to Shiba Inu price eyes a breakout from a 4-year consolidation range after 6% gains in 24 hours and 530 trillion SHIB purchases by whales. While the price target of $0.0001 makes the move seem like a long-term investment, other possibilities include anticipation of upcoming Shiba Inu ecosystem developments or simply capitalizing on a market dip. This large-scale SHIB transaction has caught
What Does This Mean for SHIB's Price?
Large-scale whale activity often has a significant impact on cryptocurrency prices. While not a guarantee, substantial SHIB accumulation by whales can indicate bullish sentiment and potentially lead to a price increase. Investors are closely watching to see if this whale-driven momentum can push SHIB towards new highs.
Disclaimer: Cryptocurrency investments are highly volatile. Do your own research before investing in SHIB or any other cryptocurrency. This is not financial advice.