a Cryptocurrency Shiba Inu meme (SHIB) is valuing more than 13% on Wednesday morning (22), a rally that helps the asset beat its ten-day best price of $0.00036.
One of the forces that helped the cryptocurrency gain market capitalization may have been a massive 4 trillion SHIB purchase by a mysterious whale – a term referring to an investor who owns large amounts of crypto activities.
The deal was revealed on Tuesday by WhaleThe Twitter profile that tracks the movement of the largest wallets Ethereum from the market.
A whale of ETH has added $4 trillion ($136 million) worth of chips in the last 24 hours. $SHIB is the most traded and most crowded token among the top thousands of ETH wallets,” WhaleStats highlighted.
Public blockchain data shows that a whale wallet was created two months ago, but the first time it received Shiba Inu was on Monday (20), with deposit Initial $2.3 million in SHIB.
Over the next 48 hours, 55 more transactions were made on Shiba Inu in the wallet. Almost all purchases were with a similar value of $2.3 million in SHIB, indicating that it was a single purchase divided into multiple parts, possibly a single purchase. security measure.
Whale’s last transaction was early Wednesday, when it transferred the equivalent of $1.7 million in SHIB to the wallet.
Currently, the investor behind these transactions has 4.2 trillion Sheep in his possession, a sum of about $151 million at the current exchange rate.
As noted by the WhaleStats file, the total value of the cryptocurrency itself was $136 million when the purchase was made – which means that the whale made an unrealized profit of at least $15 million in one day.
Sobe e desce da Shiba Inu
The recent price hike came at an important time for the Shiba Inu as the currency has been in an intense bearish movement since early December.
Shiba Inu closed November at $0.00053, but saw its earnings evaporate over the next few weeks, reaching $0.00028 on Monday, its worst price in two months according to CoinMarketCap.
Recent whale buying appears to have revived the market and cut SHIB’s losses in the last 30 days to 20%.
Shiba Inu’s market capitalization also gained momentum and reached $19.3 billion on Wednesday. The number helped catapult the meme coin to the 13th place in the ranking of the most valuable cryptocurrencies in the market, leaving Polygon (MATIC) in the 14th place.
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