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131 Billion Shiba Inu (SHIB) Bought by Whale as Price Reaches Key Support

Sat, 03/04/2023 - 10:48
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Tomiwabold Olajide
131 billion Shiba Inu (SHIB) grabbed by ETH whale as price nears rebound
131 Billion Shiba Inu (SHIB) Bought by Whale as Price Reaches Key Support
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Crypto data tracker WhaleStats has reported that an ETH whale that ranks 254th among the ETH whales it tracks has bought a whopping 131,477,192,339 SHIB, worth $1,481,747, in a single transaction.

As SHIB experienced profit-taking in the week, an ETH whale named "BlueWhale0068" also bought 91,956,507,830 SHIB worth $1,162,330, as reported.

Shiba Inu continues to have the largest token position by dollar value among the top 100 ETH whales, reflecting the interest of whales in SHIB.

According to WhaleStats, the top 5,000 ETH whales hold a staggering $606,553,503 in SHIB. The impending arrival of Layer 2 Shibarium might have contributed to the whales' sentiment around SHIB.

In a recent tweet, SHIB lead developer Shytoshi Kusama hinted about "finishing up" a task. He shared the link to the song "La Vedo Nera" by Dueuno, an Italian musical duo, on Twitter, saying "on repeat while we finish up."

SHIB price reaches key support level

Following the declines seen in the crypto market on March 3 in the wake of the Silvergate bank buzz, Shiba Inu touched the key daily MA 200 support at $0.00001092, from where the price rebounded.

Shiba Inu (SHIB) Trading Volume Responds With 50% Jump as Price Considers Next Move

SHIB is trading quite higher above this key support level as bulls try to retake ground much above this level. At the time of writing, SHIB was marginally down in the last 24 hours at $0.00001132. SHIB may go for the short-term hurdle at $0.0000124 if bulls' attempts to retake ground are successful.

Another possibility is that SHIB might stabilize close to its current levels before making a significant move up or down.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.