Shiba Inu Price Surges Above $0.000026 as Whales Accumulate Trillions in Recent Buying Spree
The price of Shiba Inu surged above the $0.000026 mark as whales engaged in a massive accumulation spree, acquiring trillions of tokens. SHIB reached an intraday high of $0.00002627, marking a 7% increase from the previous day’s low of $0.00002453. However, the bullish trend was short-lived, with Shiba Inu currently trading at $0.00002551, retracing most of its gains.
The recent surge in Shiba Inu’s value coincided with a positive market sentiment driven by Bitcoin’s resurgence to the $70K price range. Despite facing bearish pressure, Bitcoin continues to defend the $70K threshold, maintaining stability around $71,735.
Whales Accumulate 1.356 Trillion SHIB at $0.00002596
During this bullish momentum, notable investors began accumulating trillions of SHIB tokens. Surveillance account Lookonchain reported that nine wallets, including two whales, collectively invested $35.2 million to acquire a staggering 1.35 trillion Shiba Inu tokens. Some investors used portions of their Ethereum portfolios to purchase SHIB, with entry points ranging from $0.00002557 to $0.00002620, averaging at $0.00002596.
Despite Shiba Inu currently trading at $0.00002551, the new investors may hold onto their positions based on the belief in the token’s potential for significant profits. One investor who entered the market in March profited $8.24 million by selling their SHIB tokens after a successful bull rally.
One Whale Acquired 715.9 Billion Shiba Inu Tokens
In a separate update, Lookonchain highlighted a prominent whale who invested $18.44 million in Shiba Inu, acquiring 715.9 billion tokens by trading 4,849 ETH. This whale is known for its significant investments in SHIB, previously purchasing 5.5 trillion tokens and later selling for approximately $121 million.
Disclaimer: This article is for informational purposes only and should not be considered financial advice. The opinions expressed are those of the author and do not reflect The Crypto Basic’s views. Readers are advised to conduct thorough research before making investment decisions, as The Crypto Basic is not liable for any financial losses.