A top Shiba Inu whale has taken advantage of the falling price of Shiba Inu to add 157,724,055,879 SHIB tokens worth $1,220,784 to her holdings. As seen on the leading Ethereum explorer Etherscan, this hefty transaction was executed earlier today.
SHIB Accumulation Heightens
Whales continue to accumulate the second-largest decentralized meme token SHIB in anticipation of a possible price rally in the coming months.
The latest SHIB buying spree was recorded on Tuesday after the twentieth-biggest Shiba Inu whale grabbed over 157.7 billion tokens in a single transaction. This notable transaction worth roughly $1.2 million, is the second biggest SHIB purchase made by the same whale in the last seven days. The giant whale now boasts over 5.96 trillion SHIB tokens in her wallet worth $45,830,689 ($45.83 million) at press time.
Read Also: Based On SHIB Current Price, Here’s the Amount Required to Become a Shiba Inu Millionaire
A close look at her wallet history showed that the whale, which is ranked as the 20th largest SHIB holder, bought 183,953,754,354 SHIB tokens worth $1,423,802 on July 29. Adding this to the recent $1.2 million SHIB purchase, it is evident that $2,644,586 has been spent by her to obtain 341,677,810,233 (341.67 billion) SHIB within one week.
Interest in SHIB Rises
This development comes shortly after Austin Hilton, CEO of a marketing agency, The Redhill Group, shared a video on his verified Twitter account, bringing the attention of his 56.6k followers to a significant and new development in the SHIB’s ecosystem. Hilton emphasized the need to delve into the Shiba Inu investment scheme now, implying that a rally is imminent, especially after the launch of Shibarium on the mainnet.
While the accurate date for the launch of the layer-2 scaling solution remains unknown, Shiba Inu’s lead developer, Shytoshi Kusama recently aroused the interest of many users in a Telegram discussion, noting that the Shibarium launch is closer than expected. Kusama also dropped some tips which made the SHIB and crypto community at large believe the launch will take place at the upcoming ETH Toronto Conference 2023, scheduled for August 13 to 16 in Canada.
As reported by Times Tabloid, leading analytic platform IntoTheBlock revealed an impressive spike in new SHIB addresses in Q2 of 2023 with over 4,000 new addresses recorded on June 27 alone. This marked a massive 357% increase from the quarterly low on May 21.
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