Cryptocurrency market has dropped more than 3.30% in the last 24 hours. However, the best meme coin‘ also took a hit. Despite the developments, he managed to make the choice of “Buy the leading Ethereum (ETH) whales from the bottom”.
According to Whalestats data, an ETH whale named ‘BlueWhale0113’ has generated more than 321.28 billion in a single transaction. shiba inu (SHIB) acquired. This operation cost the whale about $3.72 million.
Looking closely at the details of the wallet, it can be seen that it has a total of $2.49 million worth of SHIB tokens. While SHIB constitutes 7.45% of the assets in the wallet, 11.49% is reserved for Polygon (MATIC).
The price of Shina Inu has dropped more than 4% in the last 24 hours. SHIB was trading at an average price of $0.000012 at the time of writing. It still remains the second largest meme token with a market cap of over $6.6 billion.
WhaleStats revealed that the largest of the 500 ETH whales owns more than $652 million in Shiba Inu tokens. SHIBIt also remains the largest token held by the top 100 Ethereum whales. The whales have over $510 million in Shiba Inu tokens in their wallets.
Meme Coin Transaction Volume Increases By 60%
Coin98 Insight reports that cumulatively, the 24-hour trading volume of meme coins has exceeded the $1.2 billion mark. The Shiba Inu has recorded approximately $872 million in total volume. According to Coinmarketcap, SHIB has recorded an increase of over 40% in 24-hour trading volume.
However, the largest meme coin Dogecoin (DOGE) recorded a volume of $394 million within the 24-hour trading period. Meanwhile, DOGE’s price has dropped more than 4.30% in the last 24 hours. Dogecoin was trading at an average price of $0.0686 at press time.
The cumulative market cap of meme coins has dropped by about 5% in the last 24 hours. It currently stands at $16.18 billion. Meanwhile, 24-hour trading volume has increased by as much as 60%.
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.