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According to data published by Etherscan, over the past hour, slightly under 5 billion Shiba Inu meme coins have been transferred by anonymous whales. Those transfers are likely to be purchases or redistributing meme coins to their newly opened addresses.
Whales are stocking up on Shiba Inu
Four transactions were spotted, carrying 1.06 billion, 4.9 billion and two moving 1.2 billion SHIB each. One of these transfers — 1,200,000,000 SHIB — was definitely a purchase as it was moved from the OKX exchange to an anonymous address.
The majority of the destination wallets here still keep the SHIB they bought and nothing else, i.e., they are likely to be new wallets. One of the wallets that bought 1.2 billion Shiba Inu is currently holding 5,461,811,212 SHIB in all.
One of these four addresses sold the SHIB it bought immediately.
SHIB price striving to recover
Since Wednesday last week, the popular meme coin has lost slightly over 9% of its value, falling from $0.00001147 to $0.00001037 at the moment.
Еhis week, SHIB has visited local lows of $0.00001010 a few times but has now made an attempt to recover. The prominent meme token has been following the "crypto-locomotive" of Bitcoin; BTC recently declined from the $30,000 level to $27,666 under the selling pressure caused by various factors.
Tomiwabold Olajide
Arman Shirinyan
