Shiba Inu Whales Now Have Record Amounts of Coins!

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Shiba Inu whales now hold record amounts of coins as a result of accumulating new funds during the correction.

After a rally of nearly 40 percent, Shiba Inu whales decided to support private traders by purchasing a total of more than $300 million in coins in a relatively short period of time, according to WhaleStats, a whale watching platform.

Currently, Shiba Inu whales hold 48,004,861,881,545 tokens worth more than $2.5 billion. Previously, the value of the same amount of coins was estimated at around $1.8 billion. Strong buying activity from whale addresses first appeared a few days ago when the cryptocurrency market started to recover from a 15% correction.

Prior to the events mentioned above, whale-level addresses sold more than $300 million in tokens; this was a smart move considering the Shiba Inu lost more than 10% of its value after a short while.

Typically after a correction, purchasing power enters the market, resulting in a quick rebound as we saw with the Shiba Inu today.

Earlier, KoinFinans reported that the average position of SHIB whales has increased by more than 40 percent, which could be the first indicator of accumulation starting at the largest addresses.

The current rally in the Shiba Inu market is slowly gaining momentum. At the start of the trading day, Shib was trading at a premium of 5 percent, while it is currently trading with close to 40 daily growth. In addition to the strong market performance, data on SHIB trading volume also show that retail traders are gradually entering SHIB.

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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