Data from Etherscan shows that anonymous whales have exchanged just under 5 billion Shiba Inu meme currencies in the last hour. Most likely, the transfers involve purchases or the redistribution of meme coins to their freshly created addresses.
Whales are stocking up on Shiba Inu
Four transactions transporting a total of 1.06 billion, 4.9 billion, and two transactions moving 1.2 billion SHIB each were seen. Since 1,200,000,000 SHIB was sent from the OKX exchange to an anonymous address, one of these transfers was unquestionably a buy.
The bulk of destination wallets present here only contain the SHIB that was purchased; hence, they are most likely brand-new wallets. The total amount of SHIB held by one of the wallets that purchased 1.2 billion Shiba Inu is 5,461,811,212.
One of these four addresses promptly sold the SHIB it purchased.
SHIB price striving to recover
The well-known meme coin’s value has decreased slightly more than 9% since last Wednesday, dropping from $0.00001147 to $0.00001037 at the present.
SHIB has occasionally dropped to a local low of $0.00001010 this week, but it is now making an effort to climb back up. The well-known meme token has been riding along with Bitcoin’s “crypto-locomotive”; recently, BTC dropped from the $30,000 mark to $27,666 due to selling pressure brought on by a number of causes.
