Half Trillion Meme Coin Trading From Giant Whale: Facing High Purchasing Power!

  • An anonymous whale has been in large numbers amid market panic selling and bloodbath. shiba inu bought the token

Whales continue to increase their holdings as the cryptocurrency market experiences one of its most serious corrections. Among them, a giant ETH whale has decided to increase its holdings and Shiba Inu tokens. The wallet has purchased half a trillion SHIB tokens.

A big buy to save the rally

The timing of this unexpected purchase couldn’t have been better. Because Shiba Inu was experiencing a recovery rally over the weekend that gave hope to investors, but this rise stopped after the financial markets opened on Monday.

The whale’s purchase may have aimed to both take advantage of the bearish opportunity and buy at the bottom and support the recovery rally in the market. However, according to the Trading View chart post-trade, the big buy failed to “save” SHIB from following the main trend of the market.

The Shiba Inu, which grew almost 16% over the weekend, then reached a value that had not been seen in the market since the beginning of October 2021 before quickly falling below $0.00002.

Shiba failed to regain first place

While Memetoken is “trying” to reclaim the top spot as the largest holding of whale-level Ethereum wallets, FTT token tops this list with $1.3 billion in tokens held by whales.

After the recent market plunge, the value of accounts Shiba Inu holdings has dropped significantly and is currently valued at $1.1 billion; this is the lowest point since October’s 1000% run, when whales held about $1.2 billion worth of tokens.

At the time of writing, the Shiba Inu is trading at $0.000020 and has lost more than 7 percent of its value in the last 24 hours.

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.

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