The Shiba Inu is up 11 percent in the last 24 hours, according to CoinMarketCap data. Alongside this price action, WhaleStats reports that an Ethereum whale has purchased four trillion Shiba Inu tokens in the past 24 hours.
While the recovery in Shiba Inu price coincided with the recovery in the overall market, it appears to have contributed to the high rise of over 11 percent, which whales are experiencing with focus on the rest of the market. Shiba Inu’s gains significantly outstripped Bitcoin and Ethereum’s 5% gains in the last 24 hours.
KoinFinans has repeatedly reported that these large investors are accumulating SHIB despite the steady price action. According to data from WhaleStats, an Ethereum whale has added four trillion SHIB tokens worth about $136 million in the last 24 hours.
“Looks like the whales are hungry for SHIB. An ETH whale has bought 4 trillion Shibs worth 136 Million in the last 24 hours.”
Looks like whales are really hungry for #SHIB 🐳🐳
🥳 An ETH whale added 4T $SHIB ($136M) in the past 24hrs 👉 https://t.co/DCjI0wd9vF
🏆 $SHIB is most traded and biggest hodling token among the top 1000 ETH wallets#ShibArmy RT if u always think $SHIB is the King 😉 pic.twitter.com/hOsa99etTl
— WhaleStats – the top 1000 Ethereum richlist (@WhaleStats) December 21, 2021
According to whale watching website reports, Shiba Inu ranks as the most traded and largest hodling token among the top 1000 ETH wallets.
The metrics provided by WhaleStats suggest that whales may have bought from SHIB’s low of as low as $0.000028 on Dec. 20. WhaleStats reports another ETH whale transaction that took place more than 10 hours ago, showing the purchase of 79,228,162,513 Shib tokens worth $2,582,838.
Shiba Inu Price Action
Shiba Inu is still consolidating inside a triangle formation and looks ready for a price increase within the formation. SHIB price has skyrocketed from a low of $0.000028 on December 20 to a high of $0.000033, reached earlier today.
SHIB price is currently above the $0.00043 level and is looking for an opportunity to break the surface of the triangle formation that could increase buying pressure towards the $0.00055-0.00065 area.
The Shiba Inu is currently the 13th largest cryptocurrency and is trading at $0.00003283 at the time of writing. Although SHIB has experienced volatile price movements in the past weeks, it has recorded tremendous growth, up 57789646 percent from its all-time low in 2021.
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.