SHIB Price: Shiba Inu Whale Bags 350B Coins, Price To Rally?
Highlights
- Shiba Inu price has surged more than 3% today, sparking market speculations.
- Shiba Inu whale has accumulated more than 350 billion SHIB from Binance today.
- Shytoshi Kusama spotlights major announcement and its potential impact on the SHIB burn rate.
The SHIB price has soared more than 3% today amid massive whale accumulation and major announcements from the SHIB community. Notably, according to a recent report, a whale, who previously bagged a significant amount of Shiba Inu coin, has once again purchased over 350 billion SHIB. This significant accumulation, along with the major announcement that aims to boost the Shib burn, seems to have fueled the market sentiment.
SHIB Price Soars Amid Massive Whale Accumulation
The SHIB price has gone sluggish trading over the past few days before reversing its track today with a surge of over 3%. Although the surge has sparked speculations, while reflecting the growing investors’ confidence, a significant whale transfer has caught the eyes of the market watchers.
As per a recent report from the on-chain transaction tracking platform, Lookonchain, a smart whale withdrew 353.83 billion SHIB from Binance today. This substantial transfer, worth around $6.6 million, seems to have boosted the SHIB price.
Notably, with the recent accumulation, the smart whale’s current SHIB holdings have surged to 838.87 billion, valued at around $15.5 million. This additional purchase of the meme coin into the whale’s portfolio signals the growing interest of the investors towards SHIB. Meanwhile, with his current holdings, the total profit of the whale stood at $6.13 million.
Also Read: Blast L2 Airdrop Countdown Begins, Here’s Everything
Price & Performance
Amid the significant transfer, Shiba Inu price soared 3.21% to $0.00001878, while its one-day trading volume fell nearly 40% to $280.87 million. Notably, over the last 24 hours, the SHIB price saw a high of $0.00001892 and a low of $0.00001798. Although the Shiba Inu Open Interest still stands in the red, it has improved to $36.32 million during writing.
Meanwhile, apart from the whale movement, another prominent reason that has caught the eyes of investors lately is the massive spike in the SHIB burn rate. Despite the burn rate decreasing this week, the recent week’s immense burning spree has fueled investors’ confidence in the crypto.
In addition, Shiba Inu has recently announced the launch of a close beta Web3 version of the Shiba Eternity game in the third quarter of this year. Notably, Shiba Inu’s lead developer Shytoshi Kusama said that the revenue generated from the in-app game purchase would be utilized to boost the SHIB and LEASH tokens burning, further fueling market sentiment.
Also Read: Singapore Banks Under Scrutiny Sequel To Crypto Related Crimes
- Aster Outpaces Lighter in Perp DEX Rankings as Wintermute Buys the Dip After Previous Dump
- Is This Final Bitcoin Price Correction Before US Shutdown Ends, Fed Rate Cuts?
- Blockchain for Good Alliance and UNDP AltFinLab Launch Blockchain Impact Forum
- ‘Trump Insider Whale’ Increases Bitcoin Short As U.S. Counters China in New Australia Deal
- Trump Advisor Hints US Government Shutdown Could End This Week, Opening Door for XRP ETF Ruling
- XRP Price Prediction Amid Evernorth’s $1B XRP Treasury Plan – Can XRP Hit $5?
- Ethereum Price Targets $8K Amid John Bollinger’s ‘W’ Bottom Signal and VanEck Staked ETF Filing
- Pi Coin Price Eyes 50% Upswing As AI-Powered App Studio Update Ignites Optimism
- Bitcoin Price Prediction as Gaussian Channel Turns Green Amid U.S.–China Trade Progress and Fed Rate Cut Hopes
- Solana Price Prediction: Analyst Notes Bearish Breakdown Amid Derivatives Slowdown
- Shiba Inu Price Eyes Recovery as Burn Rate Jumps 10,785% – Can SHIB Hit $0.000016?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
