Whales keep purchasing SHIB, while the meme cryptocurrency is declining; major analyst thinks SHIB might “head into the unknown” if it goes below this crucial level
Data provided by blockchain tracker etherscan shows that in the past hour, two crypto-whales have acquired more than 6.5 billion SHIB tokens.
The two massive transactions were made from the wallets of Binance and Kucoin crypto exchanges, carrying 4,085,088,583 Shiba Inu (from the Binance 16 wallet) and 2,533,125,045 SHIB from the KuCoin 3 address.
The overall balance of the second wallet – 0xf16e9b0d03470827a95cdfd0cb8a8a3b46969b91 – shows 367.052.255.525.476110092428667497 SHIB. This works out to approximately $ 10,839,053.
As reported by U.Today earlier this week, major ETH whale “Gimli”, ranked 9 on the top 1,000 ETH list by WhaleStats, made a single purchase of a whopping 110,000,000,000 Shiba Inu tokens. On the day of the purchase (January 4), this amount of SHIB was worth $3,624,500.
As of this writing, the SHIB token ranked 13 is changing hands at $ 0.00002945, according to data provided by CoinMarketCap. The SHIB is 66.71% below its all-time high of $ 0.00008845 reached by the coin on October 28.
Prominent crypto analyst and trader Scott Melker believes must not go below the $0.000022 level and has to soar up the chart. Otherwise, Melker expects the coin to “head into the unknown”.
