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SHIB Trading Volume Up 102% As Whales Grab 323 Billion Coins in 24 Hours

Sat, 11/26/2022 - 20:00
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Yuri Molchan
Largest ETH investors have increased their SHIB bet by adding $3 million worth of this popular canine token to their wallets
SHIB Trading Volume Up 102% As Whales Grab 323 Billion Coins in 24 Hours
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This week, whales have been transferring massive amounts of Shiba Inu, moving meme crypto between wallets, selling and buying SHIB.

Among these SHIB movements, the largest 100 whales on Ethereum blockchain dumped roughly $2 million worth of SHIB within two days, just before the weekend started. Now, these coins (and a little more) are back in their wallets, acquired back merely within the past 24 hours, according to WhaleStats data platform.

These fund movements were the result of rising SHIB trading volume. Earlier this week, it went up an astounding 7,449,053.83 percent.

In the past 24 hours, the rise has remained by it is only 102 percent up.

Image via CoinMarketCap

Whales buy 324 billion SHIB back

According to data provided by WhaleStats, Ethereum whales are now holding $69,169,207 in SHIB. On Friday, as covered by U.Today, their SHIB stash totaled $66,326,515.

Thus, they bought an equivalent of $3 million SHIB – a total of 323,974,082,073 meme coins. Now, SHIB comprises 3.49 percent of their crypto holdings.

However, compared to September and October, when the top 100 whales owned more than $100 million worth of SHIB, now they are holding less than $70 million.

Image via WhaleStats

Dogecoin Pumps 15% as Elon Musk Says He May Launch Alternative Smartphone

SHIB rises 12.35 percent this week

Over the past week, since Tuesday, to be more precise, the second largest meme token by market cap after DOGE, Shiba Inu, put up an overall rise by 12.35 percent up to this day. The price went up from $0.00000830 to the $0.00000933 level today.

However, by now, the price has slipped down a little and the coin is trading at $0.00000925 on the Binance exchange against USDT.

Unlike SHIB, it rival meme token DOGE jumped over 15 percent in the past 24 hours. The likely reason for that is Twitter boss Elon Musk stating in one of his posts that should Twitter app have problems with stores for Android and iOS apps, he will launch an alternative smartphone, with a new operating system, obviously.

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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