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Whales’ interest in Shiba Inu has resumed; SHIB social activity soars to 90-day high

According to WhaleStats, two enormous Ethereum whales are receiving two astounding chunks of Shiba Inu in their wallets. These investors have acquired 899,999,734,985 meme coins or 122,047,578,208 SHIB, and about a trillion SHIB. The combined cost of these two lumps to the buyers at the time of those purchases was $10.8 million.


The collective holdings of the top 100 Ethereum whales total $601,204,724 in SHIB. 11.94% of it is made up of this. SHIB is the third-largest holding in terms of USD equivalent, behind USDT and USDC stablecoins. Whales seem to still have a lot of faith in USDC despite recent volatility on the crypto market and a short de-pegging of it, holding $789,051,954 in this stablecoin – 15.67% of a single asset in whales’ portfolios.

While tens of millions of SHIB were destroyed this week, a sizable number of SHIB was transferred to dead-end wallets. The SHIB community removed over 2.5 billion meme coins from circulation last week.

At that moment, 500,000 SHIB were burned multiple times in 24 hours, and a billion of these meme tokens were burned once. The SHIB army is working to burn as many coins as possible since, in principle, these “burns” help the token become a more valuable asset and thus drive up its price.

SHIB Social Buzz Hits 90-Day High as SHIB Community Interest Spikes

In the previous 24 hours, Shiba Inu social activity has increased, claims LunarCrush. It states that the daily SHIB social contributor count reached 47,880, the highest level in the previous 90 days.


This occurs as the Shiba Inu community assumes the responsibility of protecting its preferred project in the aftermath of the recent developments.

In the SHIB network, huge transactions have increased 131% over the past day, according to IntoTheBlock. High surges in transaction volume are sometimes ascribed to increased activity by whales or huge holdings that are either buying or selling.

According to WhaleStats, two Ethereum whales made separate transactions of 899.99 billion SHIB and 122.04 billion SHIB apiece to increase their holdings by almost 1.12 trillion Shiba Inu.

whales-interest-in-shiba-inu-has-resumed-shib-social-activity-soars-to-90-day-high

SHIB/USD 4-hour chart | Source: TradingView

Shiba Inu was trading up 3% at $0.00001092 at the time of writing. In nine transactions over the previous 24 hours, a total of 11,113,873 SHIB tokens were burned.

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