Shiba Inu whales are taking advantage of the drop in the price of SHIB to fill their bags. This can be seen in the recent massive accumulation of the popular meme token as recorded on-chain.
According to the popular explorer, Etherscan.io, a big Shiba Inu whale recently grabbed a whopping 150,553,500,877 (150.55 billion) SHIB within 24 hours only. Data showed that the 19th-largest SHIB holder purchased this hefty amount of the decentralized meme token, worth $1,550,700 at the time of execution, in three separate transactions on Friday.
In the first transaction, the big whale acquired 16,099,042,840 SHIB tokens worth $165,820 at the time of executing the trade. A few minutes later, the deep-pocketed investor topped his SHIB holdings, grabbing a total of 108,040,560,167 Shiba Inu tokens. This second transaction was valued at $1,112,817 at the time of execution.
The buying spree did not stop there as the prominent crypto whale who expects the second-largest decentralized meme token to surge in price in the long run, bought an additional 26,413,897,870 SHIB at a cumulative price of $272,063.
With these recent buys, the 19th biggest individual SHIB holder increased his total holdings to 5,178,454,552,701 SHIB. At the time of writing, 5.18 trillion Shiba Inu is valued at $53,338,081.
Meanwhile, the meme token which has a current circulating supply of 589 trillion is down 4.18% in the last 30 days. However, in the last 24 hours, the asset seems to be regaining a bit of momentum in terms of price as 3,379,516 SHIB tokens were sent to the dead wallet within the same hour.
HOURLY SHIB UPDATE$SHIB Price: $0.00001031 (1hr -0.24% ▼ | 24hr 0.17% ▲ )
Market Cap: $6,080,531,866 (0.19% ▲)
Total Supply: 589,366,748,529,175TOKENS BURNT
Past 24Hrs: 3,379,516 (36.97% ▲)
Past 7 Days: 21,184,222 (-93.45% ▼)— Shibburn (@shibburn) April 29, 2023
The ShibArmy remains hopeful that through these daily SHIB burns and other ecosystem developments such as Shibarium, the asset could stage a rally in the coming months.
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