WhaleStats, the tracking platform that tracks the largest wallets on Ethereum, BSC and several other blockchains, recently reported that the 254th largest ETH whale has accumulated a massive meme coin. The whale in question has accumulated 311,998,734,794 (311.99 billion) SHIB worth $3,325,906 ($3.32 million) in two separate transactions over the past 24 hours.
Distribution of Transactions
The whale named BlueWhake0073 made 194,114,774,578 (194.11 billion) meme coin for $2,069,263 ($2.06 million) in its first transaction about 10 hours before press time. took.
The deep-pocketed investor then added 117,883,960,216 (117.88 billion) SHIB worth $1,256,643 ($1.25 million) in a second transaction.
The whale has accumulated 311,998,734,794 (311.99 billion) Shiba Inu in two transactions.
SHIB is a meme coin that has become popular recently and is designed in a similar way to Dogecoin. SHIB has increased its popularity with social media campaigns and the support of famous names.
Whales are investors with large assets in cryptocurrencies and they have the power to determine the overall direction of the market. Therefore, an investment by a large whale can be an important sign for other investors and help make predictions about the future of SHIB. However, it should be noted that due to the volatility of the cryptocurrencies market, any investment is risky. Before investing in cryptocurrencies, it is important for those who plan to invest to do their research and understand the risks.
SHIB Price
This sudden accumulation came after the price of the Shiba Inu declined towards a critical support level at $0.00001017 on the daily chart. Despite the drop, SHIB has managed to maintain its short-term uptrend and the price is currently trading sideways in a tight range of $0.000001017-$0.00001190 since March 12. However, meme coin bulls need to defend the $0.000001017 level to continue this uptrend. If SHIB fails to do so, the bears may take action and push SHIB price down 20% to the next support level at $0.000000820.
Currently, the Shiba Inu is trading at $0.00001055, down 3.5% in 24 hours. On the other hand, various developments are taking place in the Shiba Inu ecosystem. Recently, Biconomy Global, a leading crypto derivatives exchange, introduced futures trading for the Shiba Inu by adding the SHIB/USDT trading pair to its platform with up to 50x leverage.
You can follow the current price action here.
Source : the crypto basic