Huge altcoin whales have purchased SHIB and XRP in a series of transactions over the past 24 hours. It was noteworthy that the purchases came during the decline.
Altcoin buys million-dollar SHIB to save whales from decline
The two largest Shiba Inu whales continue to accumulate amid the recent price drop. Meanwhile, SHIB price bounced off the critical support level at $0.0000098. In the latest downtrend, two large Shiba Inu whales have accumulated 256 billion SHIB worth $2.71 million in a 24-hour period.
Two major SHIB investors poured millions in three transactions to save the meme token from the drop. Whales significantly increased their holdings, adding $1.32 million worth of SHIB to their portfolio. These transactions took place in two transactions in just 24 hours.
Whales buy another 135 million XRP
Elsewhere, big wallet investors have purchased over $66 million in XRP in the last 24 hours. According to Whale Alert data, the largest transaction carried more than $19.1 million in XRP. The transaction took place on the Bitstamp crypto exchange. However, the whales received more than 86 million XRP from the same exchange.
Whale Alert also reported that approximately 122 million XRP has been moved from one anonymous wallet to another. Meanwhile, $10.7 million in XRP has been moved from whale wallet to Bitstamp crypto exchange for sale.
https://twitter.com/whale_alert/status/158102134133111228
Do litigation decisions help the coin?
XRP is currently trading at $0.4858. 24-hour trading volume decreased by 52% to $1.02 billion. Despite the long-running legal battle with the SEC, XRP has managed to stay on the top 10 cryptocurrencies list. XRP currently has a market cap of $24 billion. However, the recent rulings in the critical case proved to be good for Ripple. It raised investor sentiments in favor of XRP.
As whales buy, altcoin community continues efforts to burn SHIB
Based on data from Shibburn, a total of 132 million SHIBs were permanently destroyed through the joint efforts of the SHIB community. Thus, the Shiba Inu recorded a 600% increase in burn rate. Two of the largest burns, 54,946,535 and 30,763,170, were both handled by the same anonymous wallet.
Shiba Inu welcomes 100,000 new investors
The number of Shiba Inu’s investors continues to climb to reach the ATH level. More than 100,000 investors have now been added to the list. Also, a total of 2,203,375 users currently own Shiba Inu. In the worldwide launch of Shiba Eternity, it added roughly 10,000 users to Shiba. Analysts have set a target of $0.00001081, $0.00001109 and $0.00001156 for the Shiba Inu.
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