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Shiba Inu Price Soars As Whale Buys 25 Billion SHIB Tokens

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Tue, 11/30/2021 - 06:00
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Alex Dovbnya
Shiba Inu is back above Avalanche after a 25% price spike
Shiba Inu Price Soars As Whale Buys 25 Billion SHIB Tokens
Cover image via stock.adobe.com

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The price of Shiba Inu has added more than 25% over the past 24 hours, vastly outperforming the rest of the cryptocurrency market.

The meme token has now surpassed Avalanche, and it’s now close to flipping rival Dogecoin once again.

SHIB
Image by coinmarketcap.com

The most recent spike came after Kraken, one of the largest crypto exchanges, added support for Shiba Inu on Monday, putting an end to almost a month-long wait. 

A few hours ago, a mysterious Ethereum whale nicknamed “Gimli” also bought an additional 24.8 billion SHIB tokens that were worth roughly $1 million at the time of the purchase. They currently own $56 million in the second-largest canine cryptocurrency, which is the wallet’s second-biggest holding after Ether.  

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Dutch Millionaire Is Bullish on Shiba Inu and Dogecoin
The whale also holds $26 million worth of Decentraland ($MANA), the largest metaverse token on the Ethereum blockchain.

Shiba Inu is still down 42% from its lifetime peak that was reached on Oct. 28.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.