Shiba Inu Whales Bought More Than $200 Million Worth of Tokens Amid Asset's 22% Run

Shiba Inu's growth over the last week was a pleasant surprise for most of its holders. With more than $1.4 billion worth of tokens being held by large wallets, a slight price increase became the needed catalyst to create a $200 million demand.

Buying spree

With SHIB showing positive performance on the cryptocurrency market, traders can now expect more outcomes from the token that has faced a 22% price spike. In addition to positive sentiment among retail traders, whales have also started purchasing more SHIB than a week before.

According to WhaleStats data, whale-tier traders and investors have purchased approximately $200 million worth of tokens in less than a week. Total holdings are now worth more than $1.8 billion, which is approximately $300 million short of the previous ATH.

The buying spree has started from an eight trillion Shiba Inu token purchase made by anonymous whales during the 8% price spike. The price action on the market could have been initiated with the "help" of the aforementioned whale.

After a major eight trillion Shib purchase, smaller whales have also joined the party with less significant but still big 34 billion Shib purchases made by a wallet that previously held 134 billion tokens.

Market's reaction

With the spike in buying power and overall sentiment recovery on the cryptocurrency market, Shiba Inu is continuing its growth with a slight deceleration of the price action. But while the market is indeed reacting positively to the whale buying spree, overall volatility on the asset is nowhere near October levels.

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