Whales Purchased 643 Billion SHIB Over the Weekend, Despite Jim Cramer’s Warning Not to Invest in SHIB


The WhaleStats multi-chain wallet tracker revealed that the greatest Ethereum whales acquired $8 million worth of the Shiba Inu meme currency during the previous two days.

A few days before, Jim Cramer of CNBC advised investors against purchasing cryptocurrencies in general, and SHIB and DOGE in particular.

According to U.Today on Sunday, the price of SHIB is about to make an upward rise after printing a giant green candle and attempting to surpass the four-hour moving average of 200.

According to a recent tweet by WhaleStats, the whales’ SHIB stockpile climbed by an impressive $8,000,000 over the weekend. This quantity is equal to 643,086,816,720.

The top 500 wallets contained little more than $147 million worth of the second-largest canine cryptocurrency at the end of the previous week. Now, they possess SHIB valued $155,359,382 dollars.

Anonymous wallets also shovelled enormous quantities of SHIB on Friday and Saturday. A mystery whale purchased 114,952,894,138 Shiba Inu and then sold it on Binance with three other massive SHIB transactions performed by other whales.

Jim Cramer, the presenter of the CNBC program Mad Money, suggested last week that investors should avoid investing in hazardous assets and should avoid crypto and not “be memed,” which is likely to be read as avoiding joke currencies such as Dogecoin and SHIB, as well as meme stocks. Influencer David Gokhshtein addressed this to his Twitter followers as one of the proponents.

Shortly after Fed Chairman Jerome Powell’s address, in which he declared that the U.S. central bank would maintain its hawkish posture and continue with restrictive monetary policy, he made this statement.

He reminded the CNBC audience of Powell’s advice to “stop spending our money on dumb things.” In addition, Powell said that curbing inflation might create “some pain” for American firms and people.

Also Read: Ethereum TVL loses $2.9B as merger nears

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