Shiba Inu investors missed no chance to further accumulate the token during the cryptocurrency market slump this month. The latest data from Santiment shows that 150 non-exchange wallets hold 6.57 trillion more SHIB tokens than a month ago. The development indicates that whales have massively accumulated SHIB as its price slipped to $0.00001 levels this month.
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The dog-themed token is down nearly 30% since last month making whales scoop up the cryptocurrency at every dip. The reason for the massive buying spree remains to be unknown. The identity of the 150 non-exchange wallets also remains to be a mystery currently.
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Shiba Inu: Whale Accumulation Reaches 6.5 Trillion in 30 Days
The accumulation comes at a time when Shiba Inu’s lead developer Shytoshi Kusama is on a world tour promoting the token. Shytoshi visited Japan recently and his next stop is to visit India, Mumbai city.
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Leading on-chain metrics Santiment was the first to dish out the whale accumulation spree. “Shiba Inu had a mini decoupling from other altcoins over the weekend and is up a modest +5% in the past 48 hours. Holders will be pleased with the fact that non-exchange whales continue accumulating, while exchange whale bags are shrinking,” read the tweet.
Despite being on the back foot since Q2, investors and whales have not given up on SHIB. The token largely attracts investors even when the market is down and receives a barrage of new and first-time investors when the markets go up. Only a handful of cryptocurrencies experience this kind of buying spree on all the market’s up and down seasons.
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Shiba Inu is currently hovering around the $0.00001672 price range and is up close to 3% in the day’s trade. SHIB is down nearly 81% from its all-time high of $0.00008616, which it reached in October 2021.
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