Shiba Inu’s large transactions have grown by approximately 68% as whale and major investors rushed to purchase the dip in the previous 24 hours. As a result, Shiba Inu was ranked as the eighth most acquired asset by the top 500 ETH whales. According to IntoTheBlock statistics, these trades in Shiba Inu have a total volume of more than $100,000.
Whale transactions in Shiba Inu
Large transaction spikes are frequently associated with increased activity by institutional buyers and sellers, known as whales. On May 10, Shiba Inu rebounded due to the increase in transactions from the whales on the dip following its plunge below $0.000013 during the crypto market chaos on May 9.
The price of Shiba Inu fell in a new market selloff on May 11 to lows of $0.0000112, suggesting that the top whales are hunting for a safe entry point into the purchasing market.
According to the blockchain data tracker, ETH whale BlueWhale0073 purchased a total of 191,883,317,886 SHIB tokens, valued at $3,098,915 in the previous 24 hours.
Shiba Inu’s position among top ETH wallets
Shiba Inu retains the top holding for the top 1,000 ETH wallets, with a total holding of $898,934,389 SHIB. However, for the top 100 ETH whales, the situation looks to be different, since SHIB appears to have lost this position to Synthetix (SNX).
SHIB was trading at $0.000014 today, down 14.8% in the past 24 hours. Despite the current drop, Shiba Inu continues to gain popularity. According to WhaleStats, the overall number of SHIB holders is now 1,148,721, with an increase of 9,000 holders from the beginning of May.
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