Dip Bought: Top Whale Buys 356 Billion Shiba Inu As SHIB Enters Into Historical “Demand Zone”

Top ETH Whale “BlueWhale0073” Scooped Up 356.07 Billion Shiba Inu as SHIB Enters Into Historical “Demand Zone” for the First Time Since October 2021.

According to WhaleStats, Ethereum Whale “BlueWhale0073” scooped up 356.07 billion SHIB tokens in one massive transaction.

Top ETH Whales begin taking advantage of discounted prices once again as Shiba Inu enters into the historical “Demand Zone,” i.e., $0.00000511 to $0.000000951.

Data from crypto whale tracker WhaleStats indicates that top Ethereum whale BlueWhale0073 has just loaded up on a total of 356.07 Billion Shiba Inu tokens, worth $3 Million.

In one significant transaction, as noted by WhaleStats, the Ethereum whale “BlueWhale0073,” the 690^th largest among the 1,000 ETH wallets tracked, scooped up a total of 356,078,908,730 SHIB tokens, worth $3,001,745.

? ETH whale "BlueWhale0073" just bought 356,078,908,730 $shib ($3,001,745 USD).

Ranked #690 on WhaleStats: https://t.co/RBupen06Pv

Transaction: https://t.co/RdcltXGUmz#SHIB #ShibArmy

— WhaleStats – BabyWhale ($BBW) (@WhaleStats) June 13, 2022

SHIB Price Action:

On June 11^th (Saturday), Shiba Inu breaks below the critical support zone (previous resistance) at $0.000000951 on the daily chart. Following the breakout, the price of Shiba Inu prints a new lower low located at $0.00000743, marking the entrance of Shiba Inu into the historical “Demand Zone” ($0.00000511 – $0.000000951) for the first time since October 2021.

Formerly, the price of Shiba Inu has consolidated within the zone mentioned above for almost five months, i.e., from May to October 2021. Later, the price of the popular dog-themed cryptocurrency experienced a breakout from this range on 4^th October 2021, which helped Shiba Inu’s price to skyrocket and reach an all-time high (ATH) price of $0.00008845 on October 28, 2021.

At the time of writing, the 17^th biggest cryptocurrency in the world in terms of market cap has erased -90.88% of its gains made since late October 2021.

This comes after the widespread selloff in the global crypto market worsened on June 13th (Monday). The global crypto market dipped below the $1 trillion mark for the first time since November 2021, when it peaked at $3 trillion.

However, at press time, SHIBA INU’s price action has met strong buying interest near recent lows at $0.00000743, where significant support from the daily chart keeps the uptrend intact with a 24-hour trading volume of $687,356,152 ($687.35M). The current trading price of SHIB stands at $0.000008413, up more than 3% over the last day.