- The largest ETH whale has made 536.51 billion purchases in the meme coin, which is hoped to drop a zero from its price with various transactions in the last 24 hours.
Giant Ethereum whale is the most popular dog-themed meme cryptocurrency Shiba Inu (SHIB) continues to devour in huge chunks. According to Etherscan.io, the deep-pocketed ETH investor has made a massive investment of 536,519,773,065 (536.51 billion) SHIB worth $7,017,678 ($7.01 million) in 14 instant trades in the last 24 hours.
Again, according to Etherscan.io data, the giant ETH investor shiba inuIt buys its coin from two of the world’s leading cryptocurrency exchanges, Binance and Coinbase.
Whale first Binance and transferred a total of 475,719,924,316 (475.71 billion) SHIBs worth $6,222,416 ($6.22 million).
The whale then moved onto the Coinbase exchange and received another massive chunk of 60,799,848,749 (60.79 billion) SHIB worth $795,262 in three large transactions.
Koinfinans.com As we reported earlier, after the massive accumulation, the giant ETH Whale sold some of its SHIB holdings and exchanged 19,200,000,000 (19.20 billion) tokens worth $252,096 in a notable transaction.
The key ETH investor currently holds 519,338,815,141 (519.33 billion) SHIBs in his wallet, a massive total of $6,824,112 ($6.82 million).
Can delete one zero from SHIB price – Key pattern appears to be forming
Shiba Inu (SHIB)Due to the downward crypto market conditions that have been prevalent since the start of 2022, it has yet to break a zero from its price this year. Two years ago, in September 2020, the Shiba Inu, which started off with 10 zeros in its price, touched an all-time low of $0.000000000082 and has since dropped to four zeros in price after erasing six zeros. At the time of writing, SHIB is changing hands at $0.0000131, up marginally in the last 24 hours.
The Shiba Inu hit an all-time high of $0.000088 in October 2021, triggering the final fireworks display for the 2021 bull market. Looking at the price patterns of the uptrends in 2021, a similar structure is seen.
Looking at both times, SHIB had a spike in the previous year, with the meme cryptocurrency hitting $0.0000399 in May 2021 and then an all-time high of $0.000088 in October 2021. The chart of the meme coin was first bullish, then bearish and flat consolidation, followed by another bullish run. The community hopes that the same pattern emerges in this case as well, and that a zero may be deleted as a result.
In current market conditions, many traders and investors are tempted by the quest to hit the bottom just right. Any price action following the bottom can be net positive as this level marks the lowest price in a given cycle.
The price of the Shiba Inu continues to be tightly correlated with Bitcoin and the overall market at the moment. So, given how closely macro conditions are tied to the price action of the crypto market, it makes more sense to keep an eye out for a macro bottom.
BONE trading volume increased by 233% as price rose
During the weekend, BONE reached the limit of 230 million tokens and as a result of the voting in the past months, BONE mining has stopped. BONE’s maximum supply remains at 250 million, while the remaining 20 million is reserved for Shibarium’s gas and validators.
At the time of writing, BONE is doing pretty well with a 233 percent increase in trading volumes as well as a positive 13.53 percent price increase. BONE is changing hands at $1.91 at the time of writing.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.