An anonymous Shiba Inu whale has initiated a whopping purchase of 42 billion SHIB worth around $1 million as the second-largest meme token attained local bottom, according to WhaleStats and TradingView.
According to the data provided by WhaleStats, the tracker of 1000 largest Ethereum whales, the whopping purchase was made by the anonymous whale on March 5 at 5:00 a.m. UTC.
The data reveals that the destination address now holds $108.8 million worth of different kinds of cryptocurrencies, such as Shiba Inu (SHIB), Tether (USDT), Sandbox (SAND), and Decentraland (MANA).
Tether (USDT) is the second-largest holding in the anonymous whale’s wallet and the wallet is not on WhaleStats’ list of the largest Ethereum addresses. So, it’s impossible to determine the performance of the wallet and the actual position of Shiba Inu (SHIB).
Shiba Inu (SHIB) in the Market
According to TradingView, Shiba Inu (SHIB) has entered the zone of the local bottom of $0.000023 and also attained the 200-day moving average line, which has been acting as a support zone for the cryptocurrency.
SHIB had previously bounced from it to $0.000028, unfortunately, the large purchase made by the anonymous whale could not help the price of the digital token in the market.
At the time of filing this report, SHIB is trading at $0.00002391, with a relatively 3% price downtrend in the last 24 hours.
Also, the sentiment on the market remains neutral, with some positions gaining up to 9% to their value, while others trade at a 1-2% premium.
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