Crypto whale “BlueWhale0073” has made a massive purchase of a whopping 131,477,192,339 Shiba Inu ($1,481,747), as reported by crypto data tracker WhaleStats via Twitter yesterday. The purchase comes at a time when the SHIB price reached a key support level of $0.00001092 on March 3rd.
The value of Shiba Inu has declined due to Silvergate Bank’s financial issues, causing concern in the market. Over the past day, the price has fallen by 5%, while over the last week and 30 days, it has dropped by 13% and 3.5%, respectively. Unfortunately, Shiba Inu has been unable to avoid the general market’s downturn.
As of now, the meme token has rebound a little to $0.00001132, but both weekly and daily charts are still in red with drops of 9.05% and 0.46%, respectively. In addition, 24-hour trading volume is also down by 55%, according to CoinMarketcap’s data.
Shiba Inu Rise Among ETH Whales
WhaleStats, a platform that tracks the activities of crypto whales, has also tweeted that SHIB is back on the top 10 list of purchased tokens among the 100 biggest ETH whales in the last 24 hours.
Along with SHIB, the list includes GRT, XCN, $FTM, YFI, and CVX. The meme token also ranked sixth on the list of top 10 purchased tokens by the 1000 biggest ETH whales today, with other tokens such as USDC, USDT, WETH, and others making it to the list.
This latest purchase by BlueWhale0073 has sparked much interest in the crypto world, especially for SHIB token holders. The purchase comes at a time when SHIB has been experiencing significant price fluctuations, making it difficult for investors to predict the future of the cryptocurrency.
Some experts in the crypto world believe that this purchase signals that Shiba Inu is on the rise and may experience significant growth in the future. Others, however, remain skeptical about the future of SHIB, citing its high volatility and lack of solid fundamentals.
Regardless of experts’ opinions, it is clear that SHIB continues to be a popular cryptocurrency among investors. The recent purchase by BlueWhale0073 is just one example of the activity that continues attracting investors to the crypto world.
Related Reading | Uniswap Mobile Wallet Goes Live, But Apple’s Approval Remains Elusive
