A new whale has emerged in the Shiba Inu community, amassing a substantial amount of tokens in a single transaction.
According to data from Etherscan.io, a brand-new SHIB whale has acquired a staggering 4,412,252,578,938 (4.41 trillion) SHIB tokens, with an estimated value of $40,416,233 ($40.41 million). This massive accumulation took place in a single transaction approximately 31 hours ago.
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This acquisition catapulted the whale to the 27th position on the list of the largest SHIB holders. Whale Alert, a prominent platform that tracks cryptocurrency whales, was the first to announce this whopping transaction.
🚨 🚨 4,412,252,578,938 #SHIB (40,672,144 USD) transferred from unknown wallet to unknown wallethttps://t.co/zrqGNV5Jn9
— Whale Alert (@whale_alert) August 6, 2023
The emergence of this new whale coincides with Shiba Inu’s recent surprising performance, delighting investors. Over the weekend, SHIB experienced an impressive 18% price surge after breaking out of a consolidation phase on August 4th.
Over the past month, the price of SHIB has risen by more than 51%, and the trading volume has reached a new six-month peak, as reported by market intelligence firm Santiment. This surge seems to have significant support, as many SHIB holders have chosen to retain their tokens instead of selling them on exchange platforms.
Santiment analysis indicates that the rally is likely to continue, given the substantial trading volume supporting the price surge. It appears that SHIB holders are confident in the upward momentum of the token.
😸 #ShibaInu has jumped another +15% in the past 24 hours alone, and a few indicators support the rally continuing. Trading volume is supporting the pump in a big way, & it doesn't look like there are many #hodlers moving their $SHIB to exchanges to sell. https://t.co/g9ECBIgK3N pic.twitter.com/G2vtYpEMIh
— Santiment (@santimentfeed) August 6, 2023
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In other news, the Shiba Inu Ecosystem recently announced its plans to integrate Self-Sovereign Identity (SSI) across all apps within its platform. This integration will be a crucial part of Shibarium, the much-anticipated Layer-2 scalability solution set to launch later this month.
Additionally, SHIB utility received a significant boost when Binance, the world’s largest crypto exchange platform, announced that SHIB holders can now use the token as collateral for its flexible Loan product.
With the entry of this new whale into the SHIB market and the significant developments in the Shiba Inu ecosystem, the future of SHIB holds even greater promise for both investors and the wider cryptocurrency community.
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