Whale Alert: BNB Whale Purchase Bought 139,929,254,883 Shiba Inu Tokens (SHIB).
Whale investors are not slowing down in their accumulation of Shiba Inu (SHIB) tokens, as the cryptocurrency continues to prove that it is not a memecoin.
In the late hours of yesterday, a large amount of Binance Coin (BNB) was exchanged for SHIBs on Binance Smart Chain-based PancakeSwap.
Whale Stats reports that the trader bought a total of 139,929,254,883 SHIBs (139B), worth around $4,232,859 (4.2M) when the purchase was made.
At the time of the purchase, each unit of SHIB was acquired at an average price of $0.00003026, however, following the correction of Bitcoin (BTC), the value of SHIB alongside others have fallen a bit.
Shib Whales Increase Amid Price Dip
The number of whales holding the dog-themed cryptocurrency has been on the increase since its price has fallen 66.3% from its all-time high value of $0.00008616.
Whales sees the drop in price as an opportunity to increase their position in SHIB as the token has proven to be a utility cryptocurrency for holders.
Like other digital currencies in the market, the price of Shiba Inu has been affected by the incessant correction that has rocked the market since the beginning of the year.
On January 22, 2022, the price of a unit of Shiba Inu fell as low as $0.00001900, representing its lowest for the year.
Whale Accumulation Pumps SHIB Price
However, the constant accumulation of Shiba Inu by whale traders has continued to push its price to higher heights.
Last month, TheCryptoBasic reported that the third-largest Shiba Inu whale trader purchased another massive 58,900,000,000 SHIBs to increase his holdings.
Several whale investors have been accumulating SHIB throughout the year, as these high networth traders prepare themselves for a massive surge of the token in the coming months.
As Shiba Inu continues to prove that it is not a memecoin, a title given to crypto projects created out of an internet joke, it is expected that more whale traders will accumulate the cryptocurrency, pushing its price to a greater heights.