Meme coin projects continue to attract attention. This is evident in the wallets of whales, the biggest investors. According to the data, a whale bought the second largest meme coin, Shiba Inu, last week. The value received by the investor is 1.7 trillion SHIB. Here are the details…
Popular meme coin SHIB in whales’ wallet
According to the Crypt Eye portal, a major investor in the crypto space called a whale bought 1.713 trillion SHIB, equivalent to $22.2 million, last week. Most of this amount, about 1 trillion SHIB, has been added to this account, especially in the last 24 hours. The total number of tokens in this wallet is approximately 24 trillion SHIB. This is equivalent to $319.2 million. It is not known that this wallet actually belongs to the address of a major investor. However, this address is the sixth largest among all SHIB holders. First up is the “dead wallet” created to burn Shiba Inu tokens.
The change in data on SHIB holders is noteworthy. According to Crypt Eye data, there are currently over 2 million members in the Shib Army. At the same time, their numbers are constantly increasing. The increase in SHIB owners last week was 7,718 addresses. Thus, the total number last month was 30,108. In total, the number of new SHIB wallets over the past summer was 121,000. Meanwhile, as we reported on Kriptokoin.com, the price of SHIB has risen 22 percent in the last three months. The increase in the number of addresses also showed parallelism with the price of SHIB. Therefore, it is assumed that wallets are currently in profit.
Whales take profit
Meanwhile, in a tweet on Friday, Santiment Feed revealed that Dogecoin and Shiba Inu whales are profiting from their positions, taking advantage of recent price gains as they begin to see massive market corrections. The on-chain analytics platform recorded the correlation of whale activity with the market peak. Santiment’s tweet includes the following statements:
Dogecoin and Shiba Inu experienced major price corrections after their Tuesday and Sunday peaks. As is often the case, whales heralded ideal profit-making moments every time large transactions exploded on the network.
It is worth noting that Dogecoin and Shiba Inu have seen surging price performances in a relatively quiet crypto market over the past month. Shiba Inu is up over 40 percent, while Dogecoin is up over 15 percent. However, both tokens are currently returning to the price levels seen before the weekend rally. The Shiba Inu is trading at the price point of $0.00001216, down 5.67 percent in the past seven days. It’s a far cry from last Sunday’s local highs of around $0.001744.
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