Shiba Inu Featured in Massive Token Accumulation by Single Whale
According to the latest figures compiled by analytics platform Spot on Chain, whales with address marker '0x865' have raised a total of $51.54 million. This purchase underscores the appeal of this token.
Whale Network Activity
Whales acquired the assets in less than 24 hours, with the purchase of 10,000 ETH (worth $20.3 million) being the largest transaction. Additionally, the whale also transferred a total of 60,000 BNB worth $13.73 million from Binance.
Shiba Inu was the third largest asset moved by whales in the accumulation move, with 300 billion SHIB worth $2.47 million swallowed.
Two hundred and sixty million IOST and 16 million Chiliz were also moved with market values of $2.4 million and $1.18 million respectively. Additionally, 1.6 million MATIC worth $1.22 million was also withdrawn from Binance.
One interesting trend observed in this whale is that it came to life on June 8 this year. In 175 days, he started accumulating this cryptocurrency recently, and with the massive accumulation seen recently, the whale now has a total of $53.36 million worth of various assets.
This whale action follows a major trend now visible in the market especially with regards to leading assets such as Shiba Inu, Ethereum, and Binance Coin.
Shiba Inu Price Estimate
That the whales made this acquisition from Binance underscores the position that despite its recent woes, it still maintains its dominance over its main competitors like Coinbase, proving that it maintains deep liquidity.
However, the accumulation did not help revive sentiment in the prices of most of the assets displayed. At the time of writing, SHIB was trading at a market price of $0.000008235, down 0.95% overnight.
