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Whales Respond to SHIB Price Surge with Astonishing Fund Movements

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Thu, 27/10/2022 - 12:54
Whales Respond to SHIB Price Surge with Astonishing Fund Movements
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The second largest meme coin, SHIB, has been going up in price since Oct. 25 on the news of Elon Musk planning to close the Twitter purchase deal. Earlier today, the rise reached its peak of 19.23%.

Along with this, several whales have shifted large amounts of Shiba Inu; some of these lumps were moved to be sold as the price of the meme coin peaked.

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Image via TradingView

Whales shovel 360 billion Shiba

Data provided by Etherscan shows that over the past four hours, four different wallets transferred slightly more than 360 billion SHIB in all.

The lumps they wired contained 100,000,000,000; 150,000,000,000; 54,054,054,000 and, again, 54,054,054,000 SHIB tokens. All these SHIB are the equivalent of $3.8 million at the current exchange rate.

A total of 54,054,054,000 SHIB was sent to Binance, while the rest of the crypto was likely acquired by whales.

Related

Top ETH wallets buy $6 million worth of SHIB

According to a recent tweet by WhaleStats, the top 500 wallets on Ethereum have added roughly $6 million worth of Shiba Inu to their SHIB stash. Per the tweet, they are now holding $133,187,605 in this meme coin, and SHIB has recovered the position of the biggest asset for them.

On Oct. 26, the amount of SHIB evaluated in USD totaled $127,046,308, with the coin sitting in second place on the list of their holdings after STG.

On Wednesday, U.Today reported that Shiba Inu's trading volume saw a massive jump of 211% as the coin's price began to go up.

Today has been SHIB's second consecutive day in the green zone, when it added 8.20%, hitting the $0.00001173 level. By now, the coin has gone down a little, still holding only four zeros, though, and trading at $0.00001090.

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