Shiba Inu Surges Beyond $0.000026 as Whales Accumulate Trillions in a Buying Frenzy
Shiba Inu experienced a significant uptick, reaching a peak of $0.00002627 following a 7% increase from the previous day’s low of $0.00002453. However, the bullish trend was short-lived as the current trading price of Shiba Inu stands at $0.00002551.
The recent rise in Shiba Inu’s value coincided with a positive market sentiment driven by Bitcoin’s resurgence above $70,000. Despite facing resistance, Bitcoin has managed to hold above the $70,000 mark, currently trading at $71,735.
Whales Accumulate 1.356T SHIB at $0.00002596
During this bullish phase, notable investors seized the opportunity to accumulate trillions of SHIB tokens. According to a report by Lookonchain, nine wallets, including two whales, collectively invested $35.2 million to acquire a massive 1.35 trillion Shiba Inu tokens.
The report also revealed that some investors used their Ethereum holdings to purchase SHIB tokens, with entry points ranging from $0.00002557 to $0.00002620. However, the average purchase price settled at $0.00002596.
Despite the current market price of Shiba Inu at $0.00002551, these investors may hold their positions in anticipation of potential profits given the popular belief in Shiba Inu’s growth prospects.
One Whale Acquires 715.9B Shiba Inu
In a separate update, Lookonchain highlighted the activity of a prominent Shiba Inu whale who invested $18.44 million in SHIB on June 5. This whale exchanged 4,849 ETH tokens for 715.9 billion Shiba Inu tokens.
Known for its significant investments in Shiba Inu, this whale previously purchased 5.5 trillion SHIB for around $400,000, later selling at peak points for approximately $121 million.
Disclaimer: This content serves as information and should not be considered financial advice. The opinions expressed are those of the author and do not necessarily reflect The Crypto Basic’s stance. Readers are advised to conduct thorough research before making any investment decisions, as The Crypto Basic is not liable for any financial losses incurred.
