Altcoin News
- A whale has purchased a total of 86,740,251,500 SHIB coins.
- This particular whale is known to often buy SHIB only to sell it off a little later.
- The meme coin currently hovers at a price of $0.00001164.
Data tracker WhaleStats platform has announced that a massive amount of Shiba Inu (SHIB) has been added by a major ETH investor to his pockets. WhaleStats platform monitors data related to the largest 100 wallets on Ethereum, BSC and other major chains.
Through a Twitter post, the data platform has stated that the owner of the wallet “BlueWhale0073” purchased a total of 86,740,251,500 SHIB coins. This would amount to $1,015,728.
Reportedly, this investor uses SHIB as a speculative asset as they are seen to sell off the asset shortly after purchasing them. SHIB also does not form much of the whale’s assets: a mere 0.2%. More information from WhaleStats shows that the amount of Shiba Inu held by major wallets on the Ethereum chain has diminished in the last 24 hours.
Moving in accordance with the rest of the market, the meme coin has been flashing red with a -0.5% dip in the past 24 hours. As of now, SHIB trades at a price of $0.00001164.
One good news for SHIB investors is that the meme coin appears to have found support around the $0.000011 region, holding above this key level in the past 11 days since May 14. SHIB’s current performance looks similar to its price action in late January 2022. This was the time its price increased by nearly 100% to highs of $0.000035 on 7 Feb.
Analysts believe that if buyers propel the price above $0.000014, Shiba Inu could attempt a rally to $0.0000196, which might act as a strong barrier.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.
Ecosystem
Research
News Network
About