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Shiba Inu Tokens Actively Bought by This Fund Amid 7% Drop in SHIB Price

Thu, 02/09/2023 - 13:48
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Gamza Khanzadaev
While Shiba Inu (SHIB) price goes down, this fund is actively buying more
Shiba Inu Tokens Actively Bought by This Fund Amid 7% Drop in SHIB Price
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The price of the Shiba Inu token has fallen by more than 7% in the past two days, after rising by more than 28% since the beginning of February. While SHIB's price has gone down along with the crypto market due to a general correction, there have still been entities buying the token. One such buyer in particular, quite a large and prominent one, was Jump Trading.

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Jump into Shiba Inu (SHIB)

Thus, as data from Etherscan shows, more Shiba Inu tokens entered the Jump Trading wallet in the past few days than left it. The big player was particularly active at the beginning of the week. Then, on Monday, Jump Trading got rid of 98.18 billion SHIB, but before that, on Sunday, it bought 118.3 billion Shiba Inu tokens. Further, the firm maintained a surplus in its operation with SHIB, buying 64 billion and selling 57.7 billion tokens.

A total of 130.72 billion SHIB, equivalent to $1.74 million, is currently being held in the Jump Trading wallet.

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However, Jump Trading is not the only entity interested in Shiba Inu tokens, as the number of SHIB holders continues to grow relentlessly from as early as December 2022. The number of SHIB holders has now passed the 1.3 million mark, increasing by an additional 7,500 wallets since the start of the second month of the new year.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.