Shiba Inu Surges Above $0.000026 Amid Whales’ Massive Accumulation Spree
The price of Shiba Inu climbed above the $0.000026 mark, reaching an intraday high of $0.00002627 with a 7% increase from the previous day’s low of $0.00002453. However, the bullish trend was short-lived, and currently, Shiba Inu is trading at $0.00002551, retracing most of its gains.
This surge in Shiba Inu’s value coincided with a general sense of optimism in the market, driven by Bitcoin’s resurgence to the $70K price range. Bitcoin is currently holding above the $70K threshold despite downward pressure after reaching an intraday high of $71,735.
Whales Accumulate 1.356T SHIB at $0.00002596
During this bullish momentum, notable investors began accumulating trillions of SHIB tokens. According to a recent update from Lookonchain, nine wallets, including two whales, collectively invested $35.2 million to acquire a massive 1.35 trillion Shiba Inu tokens. Some investors used parts of their Ethereum portfolios to purchase SHIB at different price points, with the average purchase price settling at $0.00002596.
Despite Shiba Inu’s current price at $0.00002551, these investors may hold their positions due to the belief in Shiba Inu’s potential for significant profits. One savvy investor entered the market in March and made a substantial profit of $8.24 million after holding onto their SHIB tokens as the price surged to $0.000045.
One Whale Acquires 715.9B Shiba Inu
In a previous update, Lookonchain highlighted a prominent Shiba Inu whale who invested $18.44 million in SHIB. This whale exchanged 4,849 ETH tokens on June 5 to acquire 715.9 billion Shiba Inu tokens. Known for significant investments in Shiba Inu, this whale previously purchased 5.5 trillion SHIB for around $400,000 and later sold at peak points for approximately $121 million.
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