SHIB Whale Buys 6.3 Trillion Shiba Inu Tokens Over Two Days, Boosting Prices by 350 %

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SHIB Whale Buys 6.3 Trillion Shiba Inu Tokens Over Two Days, Boosting Prices by 350 %

Currently Shib trades at $0.00003198 with 355% growth in the past month with more than $15 Billion Marcet Cap and now the 12th Most MC currency in the Crytpo meanwhile Dogecoin ranks 9th place enter image description here

Robinhood Whale rumors permalink

Over the course of two days, an unidentified buyer (possibly Robinhood) went on a SHIB coin shopping spree, purchasing about 6.3 trillion coins. The whale began his buying frenzy on October 1, when he purchased a massive 6 trillion SHIB coins for $43,838,900. The whale then proceeded to buy another 116 billion coins the next day, followed by two more 159 billion coin purchases and another 1 billion coin transaction, all of which occurred within a few hours.

On Saturday, October 2, the whale purchased a total of 276 billion SHIB coins on its own. Due to the enormous volume, the SHIB coin price increased by 5% before settling at roughly 3%.

But this isn't the first time a whale has shifted the memecoin's fortunes. Shiba Inu was established in August 2020 to capitalise on the popularity of Dogecoin, which attracted a slew of new investors to the cryptocurrency industry.

Shiba Inu, unlike Dogecoin, levelled up almost instantly.

In June and July, investors appeared to be very interested in Shiba Inu, as the total value locked (TVL) skyrocketed to close to $2 billion. The TVL has since dropped to under $300 million, according to DeFiLlama.

However, this hasn't stopped unknown SHIB whales from purchasing large chunks of the asset. enter image description here

Indeed, whale interest has only bolstered Shiba Inu's position in the market over the last few months. SHIB was first listed on eToro, an Israeli-based worldwide social trading platform, in late June, and has since gone on to be listed on CoinBase Pro and WeBull in early August, all fueled by whales buying billions of coins. September was similar, and SHIB was added to Binance's portfolio as well.

The memecoin known as 'Doge-killer' has a sizable social media following, with nearly a million followers on Twitter. Fans believe that a debut on RobinHood is on the way.

Author's take: permalink

once its cross its All Time high, i wouldnt be surprised in a few months it can match Market Cap of Doge Coin and DYOR while investing in Meme coins