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HomeCrypto NewsMarketNew Whale Adds 4.41 Trillion Shiba Inu As SHIB Price Rise

New Whale Adds 4.41 Trillion Shiba Inu As SHIB Price Rise


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A brand-new whale scooped up over $40 million worth of Shiba Inu (SHIB) in a single transaction.

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Etherscan.io data has unveiled the emergence of a new SHIB whale. This individual has accumulated 4,412,252,578,938 (4.41 trillion) SHIB, valued at $40,416,233 ($40.41 million). The massive accumulation was executed in a single transaction approximately 16 hours ago, from the press time.

Shiba Inu Whale Scooped Up Over 441 Trillion SHIB
Shiba Inu Whale Scooped Up Over 441 Trillion SHIB

The sheer size of this SHIB accumulation has catapulted the whale to the 27th position on the list of biggest SHIB holders.

Whale Alert, a leading cryptocurrency whale-tracking platform, was the first to draw attention to this development.

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The rise of this new whale comes at a time Shiba Inu surprised investors with its exceptional performance. SHIB witnessed a phenomenal 20% price surge over the weekend after breaking out of a consolidation phase on Aug. 4. The bullish momentum continued as SHIB surged around the psychological resistance level of $0.00001, reaching a four-month high price.

The price of SHIB has soared by over 51% in the past month, and the trading volume has reached a new six-month high, as reported by a leading market intelligence firm, Santiment.

Moreover, the rally appears to have strong support, as many SHIB holders chose to maintain their diamond hands, refraining from moving their tokens to exchange platforms for selling.

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Santiment, in its analysis, noted that several indicators point to the rally’s continuation, particularly the significant trading volume supporting the price surge. It seems that the holders are firmly backing SHIB’s upward momentum.

Last week, the Shiba Inu Ecosystem revealed its plans to integrate Self-Sovereign Identity (SSI) across all apps within its platform. This integration will be an integral part of Shibarium, the long-anticipated Layer-2 scalability solution slated to launch later this month.

Furthermore, Shiba Inu’s utility received a significant boost as Binance, the world’s largest crypto exchange platform, announced that SHIB holders could now use the token as collateral for its flexible Loan product.

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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.



Zabi is crypto enthusiastic with more than 10 years of experience in managing Google News-approved Finance websites. Zabi has a strong background in finance with a thorough understanding of cryptos and a solid grip on the crypto and financial market industry. Along with his passion for crypto writing, Zabi manages his personal stock and finance-related Google News-approved websites.

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