The whale address has also amassed 1 billion PAW tokens.
The Shiba Inu (SHIB) accumulation trend amongst whales remains sustained, as a newly-activated whale address recently amassed up to 3.3 trillion SHIB tokens currently valued at $38.9M. This development comes at the start of SHIB’s recent price uptick after the crash from the $0.000012 zone yesterday.
The transaction occurred today at 12:21 (UTC), per information from Whale Alert, the blockchain tracking and analytics system that first brought it to public attention.
Etherscan data reveals that the sending address moved funds through five different addresses before reaching the ultimate receiving wallet.
The recipient address also amassed 1 billion PAW tokens a few minutes after accumulating the SHIB tokens. With a current balance of $38.8M worth of Shiba Inu, the whale address is now the 30th biggest SHIB holder. The PAW tokens currently have no value, and it is unclear if they are affiliated with the PawZone ecosystem.
Recall that PawZone recently announced that its official token “PAW” will soon launch on the upcoming Shibarium L2 network. PawZone is one of the numerous projects that have indicated an interest in building on Shibarium. The creator of PawZone further advised investors against buying fake tokens, as their token has not yet been deployed.
SHIB’s Whale Accumulation and Price Uptick
Meanwhile, this recent SHIB accumulation move shortly followed a series of earlier transactions that saw the 26th largest SHIB whale add 150 billion tokens to her balance. These tokens were amassed in a cluster of four transactions within three hours on January 23.
This pattern of whale accumulation remains persistent amid SHIB’s promising price movements in the wake of the broader bullish sentiments and the Shibarium hype. The asset has gained by 4.41% in the past 24 hours, leading to a surge above the $0.0000112 territory, as it currently changes hands at $0.00001172.
Moreover, with a current valuation of $6.43 billion, SHIB looks set to overtake Litecoin (LTC) once more as the 13th largest asset by market capitalization. Litecoin’s market cap currently sits at $6.46B.