Main navigation

Nearly 1 Trillion Shiba Inu (SHIB) Suddenly Acquired by Super Early Whales

Advertisement
Wed, 5/06/2024 - 10:49
Nearly 1 Trillion Shiba Inu (SHIB) Suddenly Acquired by Super Early Whales
Cover image via www.freepik.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

Spot On Chain's recent findings highlight significant activity on the Shiba Inu (SHIB) token market, as early investors acquired a substantial amount of SHIB again. This sudden influx into old wallets, nearing one trillion SHIB, raised speculation about a potential pump in the Shiba Inu token price similar to the 2021 bull run.

Advertisement

Related

Thus, it is reported that one early buyer whale spent 1,000 WETH, worth about $3.83 million, for 149.3 billion SHIB. These tokens were deposited from a wallet, which got 5.16 trillion SHIB for just 45 ETH in March 2021. The buyer still has 1,169 WETH, worth about $4.45 million, which could be used for more SHIB purchases, as suggested.

Another early buyer has returned to the market after a two-year absence. Over the past few hours, this entity bought 4,849 WETH for 715.8 billion SHIB, impacting the increase of the price of SHIB. With 9,207 ETH and WETH, worth approximately $34.9 million, still in possession, this entity may continue to accumulate SHIB too.

2021 again?

The Shiba Inu token, introduced in 2021 and reaching a peak price of $0.0000857 during the bull market, is currently trading at $0.0000262. The renewed interest from early investors suggests they believe in SHIB's future.

Article image
SHIB to USD by CoinMarketCap

Related

As these early investors make strategic moves on the SHIB market, enthusiasts watch closely. Substantial investments and calculated acquisitions by once super early investors could signal a bullish trend for Shiba Inu, similar to the gains seen in 2021. 

However, whether this indicates anticipation of a real bull market on their side or remains speculation is yet to be seen.

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD