Crypto News

Whales Boost Shiba Inu (SHIB) As Accumulation Trend Gains Momentum

Recent observations by Lookonchain suggest that whales are closely monitoring Shiba Inu (SHIB) and have been strategically adding the popular meme coin to their portfolios. 

This accumulation has generated increased buying pressure, effectively neutralizing the presence of sellers in the SHIB market. Such significant purchases often lead to a positive impact on the cryptocurrency’s value, and it is intriguing to witness SHIB benefiting from this ongoing trend.

In a notable report, a freshly identified whale wallet executed an accumulation of 136.86 billion $SHIB (equivalent to $1.38 million) just a few hours ago. 

Comparing the performance of major cryptocurrencies over the past month, Bitcoin ($BTC) increased by 9.78%, Ethereum ($ETH) recorded a 16.09% rise, while Shiba Inu ($SHIB) demonstrated a 4.86% increase. Despite the comparatively modest percentage growth, SHIB’s appeal remains evident as evidenced by the strategic accumulation activities of several whales.

Notable SHIB Whales To Monitor

Over the past month, four whales engaged in substantial SHIB accumulation, amassing a total of 2.39 trillion $SHIB, equivalent to $24.15 million, from various exchanges. These notable transactions include:

– Address 0x03A6 accumulated 136.86 billion $SHIB ($1.38 million) from Binance in the most recent transaction.

– Address 0xF633 gathered 1.44 trillion $SHIB ($14.54 million) from Binance and Gateio over the past three days.

– Address 0xa656 acquired 237.87 billion $SHIB ($2.4 million) from Binance approximately 19 days ago.

– Justin Sun, a prominent figure in the cryptocurrency space, accumulated 577 billion $SHIB ($5.82 million) from Binance around 22 days ago.

As these whale activities continue to shape SHIB’s trajectory, the cryptocurrency community keenly observes the potential implications of these strategic moves on Shiba Inu’s market dynamics.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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