- According to data from a whale-watching platform, a whale currently holding two trillion SHIB tokens is worth billions. Shiba Inu (SHIB) devoured the cryptocurrency.
Despite the poor price performance of the second-largest meme cryptocurrency, the whale named “Tsunade” and known as the third largest wallet on the Ethereum blockchain, has 86 billion shiba inu bought tokens. This amount was worth $2.3 million when the transaction took place.
As SHIB struggled to break through the resistance on March 2, the wallet currently holding around $3.5 billion in various digital assets made a large purchase. Unfortunately, this purchase had no effect on the price of SHIB.
Although the giant wallet buys a large amount of SHIB tokens, Shiba Inu is not the address’s largest holding. According to the whale’s page on WhaleStats, the largest holding in the wallet appears to be the “American Doge” token. Second to the largest holdgins in the wallet, which currently holds $1.8 billion in USDOGE, is the PAXG token, a cryptocurrency that allows investors to gain exposure to Gold through digital assets.
More than 2 trillion SHIB in the hands of the whale is about 47 million dollars.
Price performance of the Shiba Inu
Despite a series of large purchases by whales last month, the Shiba Inu’s price momentum has slowed after it hit $0.000027. The highest point reached by the token in March was $0.000029, which is considered a strong psychological resistance as the token failed to break this level at the beginning of the month as well.
As for the technical indicators, the moving averages on the Shiba Inu are almost “death crosshad a condition called ”; this is mainly due to the intersection of the 50-day moving average and the 200-day moving average when the “shorter” MA falls below the “longer”.
Thanks to the relief in the cryptocurrency market, the crossover did not occur as SHIB gained nearly 30 percent in March, causing the moving averages to diverge. This is claimed to leave the token in a global uptrend as a result.
SHIB burning continues at full speed
SHIB army, large quantity shiba inuIt continues to carry ‘ to dead wallets. Dedicated to increasing the scarcity of cryptocurrency, the community is burning almost 100 million meme cryptocurrencies this time around.
Twitter user, a monitoring platform where the Shiba Inu community can track the amount of SHIB tokens burned @shibburntweeted that they have moved a total of 86 million meme coins to their “inferno” addresses since last morning and are now permanently locked there.
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.