This week, whales have been moving large sums of Shiba Inu between wallets, selling and purchasing SHIB.
Among these SHIB transactions, the 100 greatest whales on the Ethereum blockchain drained about $2 million worth of SHIB just two days before the weekend. According to the WhaleStats tracking portal, these coins (and a small amount more) have been returned to their wallets during the previous 24 hours.
The cause of these fund changes was the increase in SHIB trading volume. This week, it increased by a staggering 7,449053.83 percent. During the last twenty-four hours, the increase has remained at 102 percent.
According to data from WhaleStats, Ethereum whales now possess $69,169,207 worth of SHIB. As reported by U.Today on Friday, their SHIB holdings reached $66,326,515.
Thus, they acquired the equivalent of $3 million SHIB, or 323,974,082,073 meme coins in total. Now, 3.49 percent of their cryptocurrency holdings are SHIB.
However, compared to September and October, when the top 100 whales had SHIB worth more than $100 million, they now have less than $70 million.
Shiba Inu, the second-largest meme token by market capitalization after DOGE has increased in value by 12.35 percent since Tuesday of the previous week. Today, the price increased from $0.00000830 to $0.00000933.
However, the price has since decreased somewhat, and the currency is now trading at $0.00000925 versus USDT on the Binance platform.
In contrast to SHIB, its competitor meme token DOGE increased by more than 15 percent in the previous 24 hours. The probable explanation for this is Twitter CEO Elon Musk’s statement in one of his articles that he would develop an alternate smartphone with a different operating system if the Twitter app has issues with Android and iOS app stores.
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