SHIB Trading Volume Up 102% As Whales Grab 323 Billion Coins in 24 Hours

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Yuri Molchan

Largest ETH investors have increased their SHIB bet by adding $3 mil­lion worth of this pop­u­lar canine token to their wallets

Con­tents

This week, whales have been trans­fer­ring mas­sive amounts of Shi­ba Inu, mov­ing meme cryp­to between wal­lets, sell­ing and buy­ing SHIB.

Among these SHIB move­ments, the largest 100 whales on Ethereum blockchain dumped rough­ly $2 mil­lion worth of SHIB with­in two days, just before the week­end start­ed. Now, these coins (and a lit­tle more) are back in their wal­lets, acquired back mere­ly with­in the past 24 hours, accord­ing to WhaleStats data platform.

These fund move­ments were the result of ris­ing SHIB trad­ing vol­ume. Ear­li­er this week, it went up an astound­ing 7,449,053.83 percent.

In the past 24 hours, the rise has remained by it is only 102 per­cent up.

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Image via Coin­Mar­ket­Cap

Whales buy 324 billion SHIB back

Accord­ing to data pro­vid­ed by WhaleStats, Ethereum whales are now hold­ing $69,169,207 in SHIB. On Fri­day, as cov­ered by U.Today, their SHIB stash totaled $66,326,515.

Thus, they bought an equiv­a­lent of $3 mil­lion SHIB – a total of 323,974,082,073 meme coins. Now, SHIB com­pris­es 3.49 per­cent of their cryp­to holdings.

How­ev­er, com­pared to Sep­tem­ber and Octo­ber, when the top 100 whales owned more than $100 mil­lion worth of SHIB, now they are hold­ing less than $70 million.

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Image via WhaleStats

SHIB rises 12.35 percent this week

Over the past week, since Tues­day, to be more pre­cise, the sec­ond largest meme token by mar­ket cap after DOGE, Shi­ba Inu, put up an over­all rise by 12.35 per­cent up to this day. The price went up from $0.00000830 to the $0.00000933 lev­el today.

How­ev­er, by now, the price has slipped down a lit­tle and the coin is trad­ing at $0.00000925 on the Binance exchange against USDT.

Unlike SHIB, it rival meme token DOGE jumped over 15 per­cent in the past 24 hours. The like­ly rea­son for that is Twit­ter boss Elon Musk stat­ing in one of his posts that should Twit­ter app have prob­lems with stores for Android and iOS apps, he will launch an alter­na­tive smart­phone, with a new oper­at­ing sys­tem, obviously.

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