The price of the popular meme coin Shiba Inu (SHIB) managed to rise despite the volatile market conditions and outperformed most of the crypto market this week.
Shiba Inu launches “Holder Event”
Strong pre-SHIB land sales, Robinhood listing, whale purchases and more are factors supporting SHIB prices this week, as we covered on Kriptokoin.com news is among. In a recent update, a land auction event in the virtual world of the Shiba Inu has ended and has moved on to its next phase.
SHIB’s 72-hour sell event has managed to keep the hype for the coin in the market. While major cryptocurrencies print red indices, the Shiba Inu token has gained over 8% in the last 7 days.
With the initial bidding event over in SHIB’s Metaverse, the team announced the second phase to acquire land, called the ‘Holder Event’. In this context, lands that were not purchased during the first event will be made available directly to LEASH or SHIBOSHI owners. SHIB stated that this event will continue at fixed prices and for seven days.
According to reports, the highest bid for a piece of land in SHIB’s Diamond Teeth tier went to about 6.5 Ethereum, or about $20,000. The bid amount for the land will remain the same as in the Holder Event. However, there is no fixed upper limit for purchasing land.
ETH whales still buy SHIB token
Ethereum (ETH) whales also keep accumulating SHIB token meanwhile. An ETH whale named “BlueWhale0073” has purchased over 237 billion SHIB tokens worth $5.7 million. Recent purchases have also placed the token in the top 10 list of cryptocurrencies bought by Biggest ETH wallets in the past 24 hours. The biggest Ethereum whales hold $1.3 billion worth of Shiba Inu coins.
By the way, according to Shibburn, it should be noted that the combustion process does not slow down. In the last 24 hours, over 344 million Shiba Inu tokens have been sent to the dead wallet in just 24 transactions.
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