Shiba Inu Whales Anticipate Cataclysmic Price Explosion Due to the Movement of Billions of SHIB
Within 24 hours, a mystery whale bought $6 million worth of Shiba Inu (SHIB) tokens.
An investor bought 708.41 billion Shiba Inu tokens from cryptocurrency exchange Gemini for $5.99 million, as reported by Whale Alert, a prominent blockchain monitoring tool.
This comes just after another “whale” transferred 4.67 trillion SHIB tokens, worth around $38.7 million, from one wallet to another. Around 5 trillion SHIB tokens, worth around $44 million, have been accumulated by wealthy Shiba Inu holders in the last week.
After the debut of Shibarium – Layer 2 solution, which propelled Shiba Inu into the spotlight and attracted substantial interest from investors and exchanges across the world, whale activity has spiked.
The Shiba Inu token has just surpassed Dogecoin to become the second most popular cryptocurrency in the world, according to CoinGecko, a major site for compiling cryptocurrency statistics.
The data given by India’s leading cryptocurrency trading platform, WazirX, shows that Shiba Inu jumped from being the sixth most traded cryptocurrency on their exchange in June to the fifth most traded cryptocurrency on their exchange in July, demonstrating the significant increase in demand.
Binance’s strategic debut of its cryptocurrency payment platform, Binance Pay, inside the vibrant Brazilian market has been a major driver on the road to mainstream adoption. Given that Brazil is home to the world’s biggest group of cryptocurrency users, this collaboration has the potential to usher in a period of widespread, mainstream acceptance for SHIB.
WireX, a cutting-edge banking alternative, recently held a party to welcome SHIB to its platform. As a result of this deliberate incorporation, SHIB is now available for purchase, exchange, and usage by an unprecedented 5.5 million users via an unprecedented network of more than 81 million worldwide shops.
Importantly, SHIB has been soaring on the back of a wave of increased wallet activity. This trend is supported by Crypteye statistics showing that the overall number of SHIB holders has surpassed 2.4 million, a significant increase from the 2.06 million reported on the same day last year.
Despite this positive momentum leading up to the release of Shibarium, the price of SHIB has been stagnant in recent weeks. According to statistics from CoinMarketCap, the price of one meme coin was $0.0000073 at the time of publication, down 3.14 percent from the previous day.
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