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6.5 Billion SHIB Added by Crypto Whales to Their Holdings Within One Hour

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Sat, 01/08/2022 - 16:00
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Yuri Molchan
Whales keep purchasing SHIB, while the meme cryptocurrency is declining; major analyst thinks SHIB might “head into the unknown” if it goes below this crucial level
6.5 Billion SHIB Added by Crypto Whales to Their Holdings Within One Hour
Cover image via stock.adobe.com

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Data provided by blockchain tracker etherscan shows that over the past hour, two crypto whales have acquired over 6.5 billion SHIB tokens.

The two massive transactions were made from the wallets of Binance and Kucoin crypto exchanges, carrying 4,085,088,583 Shiba Inu (from the Binance 16 wallet) and 2,533,125,045 SHIB from the KuCoin 3 address.

The overall balance of the second wallet - 0xf16e9b0d03470827a95cdfd0cb8a8a3b46969b91 – shows 367,052,255,525.476110092428667497 SHIB. That is approximately $10,839,053.

shibbinance00
Image via etherscan
shibkucoin000988
Image via etherscan

As reported by U.Today earlier this week, major ETH whale “Gimli”, ranked 9 on the top 1,000 ETH list by WhaleStats, made a single purchase of a whopping 110,000,000,000 Shiba Inu tokens. On the day of the purchase (January 4), this amount of SHIB was worth $3,624,500.

Related
Top ETH Whales Grab MATIC, LINK, FTX as Market Remains in Decline

At the time of writing this, the 13-ranked SHIB token is changing hands at $0.00002945, as per the data provided by CoinMarketCap. SHIB is 66.71 percent below its all-time high of $0.00008845 hit by the coin on October 28.

Prominent crypto analyst and trader Scott Melker believes must not go below the $0.000022 level and has to soar up the chart. Otherwise, Melker expects the coin to “head into the unknown”.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.