Major ETH Whales have purchased $10.89 Million worth of Shiba Inu (SHIB) in the past 24 hours.
WhaleStats, a well-known blockchain data tracking platform, reveals that two prominent ETH investors have accumulated a humungous 1,022,047,313,193 (1.02T) SHIB, worth $10,898,378 ($10.89M) through two separate transactions in the past 24 hours.
As per WhaleStats, the first transaction was carried out by ‘Kvothe,’ the 232nd biggest ETH whale, who added a great 899,999,734,985 (899.99B) SHIB, worth $9,611,997 ($9.61M), in a single transaction approximately 10 hours ago from the time of press.
?? ETH whale "Kvothe" just bought 899,999,734,985 $shib ($9,611,997 USD).
Ranked #232 on WhaleStats: https://t.co/CfilpTbqSZ
Transaction: https://t.co/VAle0DAtFJ#SHIB #ShibArmy
— WhaleStats (tracking crypto whales) (@WhaleStats) March 20, 2023
Shortly after, the 254th biggest ETH whale, known as ‘BlueWhale0073’ executed a transaction acquiring 122,047,578,208 (122.04B) SHIB, worth $1,286,381 ($1.28M).
? ETH whale "BlueWhale0073" just bought 122,047,578,208 $shib ($1,286,381 USD).
Ranked #254 on WhaleStats: https://t.co/RBupemZyZX
Transaction: https://t.co/q1bjanKJTg#SHIB #ShibArmy
— WhaleStats (tracking crypto whales) (@WhaleStats) March 20, 2023
The significant Whale’s accumulation comes after Crypto.com’s routine custody operation, transferring 24,939,482,510,233 (24.93T) SHIB, worth $269,595,805 ($269.59M) to a new address to maintain the safety and security of exchange wallets.
Such major accumulation from whales in an ongoing market where Bitcoin is trading above $28,000 shows that a significant price increase for Shib is around the corner as the market is short-term bullish with BTC leading. When BTC stops pumping and consolidates at a specific price range, the altcoins may start pumping.
Shib Keeps On Advancing
The demand for Shiba Inu continues to grow with the launch of Shibarium Public Beta, resulting in a significant increase in the burn rate. As reported by The Crypto Basic, the Shiba Inu Community has collectively destroyed 2,072,114,690 (2.07B) SHIB through 290 separate transactions in the past week alone.
Amidst the ongoing developments, Shiba Inu’s lead developer, Shytoshi Kusama has recently hinted at a groundbreaking development while commenting on the meeting between Marcie Jastrow, the Shiba Inu metaverse advisor, and Ted Schilowitz, the futurist at Paramount Pictures during the 2023 South by Southwest festival held in Texas.
Meanwhile, to combat a growing FUD campaign against the project, Kusama has classified all community members as part of the Shiba Inu Defense Breed.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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