SHIB is currently trading at $0.00002532, with a dip of 1.76%.
In the past few hours, whales have accumulated 1.356 trillion SHIB tokens.
The Shiba Inu (SHIB) token has a notable surge in whale activity, with recent Lookonchain data indicating considerable investments by large holders. In the past 12 hours, nine wallets, including the two massive whales, have accumulated 1.356 trillion SHIB tokens at an average price of $0.00002596. This totaled an investment of $35.2 million, and despite the market volatility, it exhibited confidence among the SHIB community.
What a crazy buy!9 wallets(2 whales) spent $35.2M to buy 1.356T $SHIB at an average price of $0.00002596 in the past 12 hours!Address:0xFB67EF6fE609edAb1e0595e6815634E8E4db9cF70xb2f1956eAE0817dB73C4D542A4861eE485B7e7c60x607C26c976272459A0896065E03a9b70C0Ef04B5… pic.twitter.com/yfSUyFSLQy
— Lookonchain (@lookonchain) June 5, 2024
An investor spent around 4,849 ETH, worth $18.44 million, to acquire 715.9 billion SHIB tokens within the last six hours alone. This purchase reflects a bullish rally among the cryptocurrency whales, capitalizing on lower prices during the downtrend of the market. Previously, this investor invested around $400,000 in SHIB to acquire huge chunk of SHIB and make a profit of $121 million. That made him one of the most prominent SHIB traders.
A $SHIB super big winner is buying $SHIB crazily, spending 4,849 $ETH($18.44M) to buy 715.9B $SHIB in the past 6 hours.This guy spent only ~$400K to buy 5.5T $SHIB in the early stage and sold for ~$121M at 2 peaks.He made more than $120M on $SHIB before, an amazing gain!… pic.twitter.com/iREp5jfj75
— Lookonchain (@lookonchain) June 5, 2024
The recent whale activities infer that large investors are massively transferring their assets from centralized exchanges to secure environments. This not only showcases their long-term interest to SHIB but also highlights an approach to the management of the asset amid market’s down trend.
The token is trading at $0.00002532, marking a notable decline of 1.76% within the past 24 hours. The market cap stays at $14.91 billion, and the trading volume dipped down to 30.07%, at $395 million. The Relative Strength Index (RSI) is at 51.79, which denotes a neutral level or a balance between bullish and bearish positions.
The token’s volatility declined, resulting in a decrease in trading volume. This indicates that some investors are holding back and the whales are employing to enter the market. The market sentiment is neutral, not bullish or bearish as per the recent price movements.
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