Large whales keep stocking up on Shiba Inu as Shibarium keeps expanding
Cryptocurrency whales continue to purchase huge quantities of this meme coin even though the price of the Shiba Inu (SHIB) is now flat. In the interim, more wallets connect to the Shibarium testnet to conduct transactions.
According to Etherscan, two SHIB investors purchased a sizable sum of Shiba Inu in just two transfers less than an hour ago. The first spent 10,817,157,076 SHIB, while the second spent 6,782,260,080 meme coins.
SHIB/USD 4-hour chart | Source: TradingView
These Shiba Inu pieces were purchased as the asset’s price fell by less than 2% over the previous day. According to CoinMarketCap, SHIB is now trading at $0.00001057 at the time of writing.
The top 100 whales on the Ethereum blockchain hoard somewhat more money overall. SHIB represents roughly 12% of the combined portfolios of the top 100 whales on the Ethereum network, with a market cap of slightly more than $601.2 million. These wallets contain 496,214,650,935 SHIB or an average value of just over $6 million.
Earlier this week, an anonymous wallet sent a stunning 3,484,812,794,902 SHIB to an unidentified address. The value of these Shiba Inus was $40,284,435 at the time of acquisition.
Meanwhile, Shibarium’s Puppynet beta continues to advance. It is near reaching the landmark of 14 million addresses connected to Shibarium. This sum has increased over the past 24 hours. This number has increased by around one million addresses in the last day. The number of transactions has also increased significantly, reaching over 4.2 million as of this point.
- Dogecoin Price Plummets As Musk’s SpaceX Spacecraft Launch Ends In Failure
- Whales Have Been Stocking Up On Shiba Inu In Past Hour, Bullish Or Bearish In April?