After the Binance network hack that hit the markets today, prices have generally declined. Some investors took advantage of this drop and bought altcoins. In particular, the Shiba Inu (SHIB) purchased in the last 24 hours attracted attention. Here are the details…
Whales take action amid Binance hack
Shiba Inu crypto Ecosystem launched its game amid volatile market conditions. The most anticipated Shiba Eternity, the CCG game, hit all the app stores. However, anticipation on the official download day (October 6) failed to raise Shiba Inu prices. Meanwhile, after the release of SHIB’s official game, Shiba Eternity, a whale wallet has generated a lot of interest in the meme token.
A whale wallet added about $19.39 million worth of Shiba Inu amid the price drop, according to Whalestats. Whale added 1.7 trillion SHIB tokens to its wallet in a single transaction. The data shows that this whale accumulation occurs through purchases made on the cryptocurrency exchange Huobi. It should be noted that this move of the whale occurred in the midst of the recent Shiba Inu crypto price drop.
However, the global crypto market cap has dropped another 2 percent in the past day. It currently stands at around $954 billion. However, this latest drop is due to another crypto exploit that shocked the industry. As we reported as Kriptokoin.com, the Binance Bridge hack event caused the BSC network to be suspended for long hours. BSC stated that approximately $100 million to $110 million has been withdrawn from the chain. Meanwhile, around $7 million was initially frozen by the Binance team.
SHIB price still down
However, the Shiba Inu price has dropped 3 percent in the last 24 hours. This decrease was recorded after the release of its official game. SHIB is currently trading at an average price of $0.000011. It still has a market cap of around $6.12 billion amid volatile market conditions. Earlier, WhaleStats reported that on October 6, 2022, two whales transferred approximately 2.1 trillion Shiba Inu! to Coinbase. The cumulative value of these transactions is approximately $24.3 million. By the way, these transactions were made on the day the Shiba Inu game was released.
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