As whale watching bot Whale Alert reports, altcoin whales opened their mouths towards the weekend. Giant investors have spent billions of dollars on a popular meme token.
Altcoin whales are wildly collecting this meme token
As Whale Alert reports, 3.3 trillion Shiba Inu (SHIB) have been transferred in the last 48 hours. This amount of SHIB was sent to an empty cryptocurrency wallet in multiple transactions. This also means that a new SHIB whale has been born that received 3.3 trillion SHIB. This whale is currently holding roughly $30 million worth of SHIB.
Meanwhile, SHIB price rose in double digits shortly after the transfer. Sharing a statistically significant positive correlation with BTC, Cardano and Shiba Inu are in the green by over 10% compared to last week. It looks like the whales managed to buy SHIB at the right time ahead of the current rally.
However, in the last rally, especially those who took short positions suffered a major defeat. According to data from Coinglass, short positions liquidated in the last 24 hours accounted for 62% of total market liquidations.
Whale Alert posted on Twitter on January 12 that the whales had matched purchases ahead of the rally. SHIB is currently trading in the green around 10% as of this time. The whales thus grew their balances by millions of dollars in less than 48 hours.
🚨 🚨 3,323,256,285,484 #SHIB (30,458,751 USD) transferred from unknown wallet to unknown wallethttps://t.co/f12FEIOwzC
— Whale Alert (@whale_alert) January 12, 2023
Binance wallets have SHIB mobility
In a prominent transaction this week, SHIB witnessed $36.2 million in transfers from Binance wallets. Binance has sent 4 trillion SHIB tokens to ShibaSwap for staking. This transaction was about to take advantage of the interest options of the DEX platform. $36.2 million worth of SHIB flowed from such Binance wallets to ShibaSwap. Meme token is also among the most traded cryptocurrencies.
SHIB becomes the most traded altcoin
On-chain data tracker WhaleStats, which focuses on wallets, specific chains and tokens, reports that Shiba Inu has once again risen as the most traded cryptocurrency among the top 100 whales on the Ethereum network. SHIB is currently the 10th largest cryptocurrency by trading volume and one of the most frequently bought by the whales mentioned above. The meme token ranks last in terms of SHIB’s position among the top ten cryptos. Overall, the largest Ethereum whales now have $50,794,729 worth of SHIB in their wallets. This represents 2.24% of their total portfolio.
With the upside positive improvements, SHIB has made many partnerships in terms of adoption since last year. Shiba Inu has partnered with CoinGate, SaaS platform Wix, as we quoted as Kriptokoin.com. The meme token thus continues to be adopted in Europe.
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