A new report from the Shiba Inu accumulation tracker WhaleStats indicates that one particular crypto whale, or a group of them, has just loaded up on over 99 billion Shiba Inu tokens worth $3,560,960. It’s another flat action since the latest report.
A large number of wallets owned by ”Jiraiya,” the 17th largest among the 1,000 ETH wallets tracked, combined have made a pair of transactions involving 99 billion SHIB tokens, worth about $3.65 million at today’s prices.
In this example, the transactions occurred simultaneously and were recorded on the blockchain over 20 hours ago. Jiraiya purchased 49,999,041,461 SHIB worth $1,847,289, followed by 48,999,041,461 SHIB worth $1,810,343.
Every market cycle has an accumulation phase, where prices flatline and contrarians see the opportunity to jump into the market. This has been the case for Shiba Inu.
It’s time to get some price action for SHIB
While the market capitalization of Shiba Inu’s coin has dropped and fallen out of the top 10 cryptocurrencies, whales and dip buyers are calming the waters and allowing a semi-orderly rebound of the meme token.
At the time of writing, SHIBA INU’s price action has met strong buying interest near recent lows at $0.00003425, where major support from the daily chart keeps the uptrend intact with a 24-hour trading volume of $1,169,504,576.
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