News

Whale Enthusiasm For Shiba Inu Surges Amid Meme Coin Frenzy

This week, the excitement among whales for Shiba Inu (SHIB) has reached unprecedented levels, signaling a resurgence in the meme coin frenzy.

Data from IntoTheBlock reveals a staggering spike of nearly 500% in large transactions involving SHIB, indicative of heightened interest and activity within the community.

In a remarkable turn of events, the total supply of SHIB tokens has witnessed an exponential surge, skyrocketing from 1.2 trillion to an astounding 6.6 trillion in just two days. 

This surge in supply coincides with a notable uptick in the price of the token, which has seen impressive gains of 27% within a 24-hour period and a remarkable 45% surge over the past seven days.

On-chain reports from Spotonchain provide further insight into the behavior of whales, suggesting a concerted effort to accumulate Shiba Inu tokens.

Notably, Smart trader 0x37d executed a significant move by withdrawing 75.91 billion SHIB tokens, valued at $893K, from Binance at an average price of $0.041176. 

This move marks a notable shift in the trading dynamics surrounding SHIB, indicating increased investor interest and confidence in the token’s potential.

SHIB Whale Records Massive Profits, Also In Other Tokens

Furthermore, recent trading activity by whale 0x37d highlights a diverse portfolio strategy, with substantial gains realized from previous investments.

Related Post

The whale secured an estimated profit of $3.47 million (+135%) from a PEPE trade, showcasing astute trading acumen and market foresight. Additionally, gains of $614K (+21.9%) from Ethereum (ETH) investments underscore the whale’s diversified approach to crypto trading.

Despite the overall positive sentiment surrounding SHIB, whale 0x37d also faces challenges, with losses incurred from holdings in MANA and SAND tokens.

Despite these setbacks, the whale’s strategic maneuvering and ability to capitalize on market opportunities reaffirm the dynamic nature of crypto trading.

As Shiba Inu continues to capture the imagination of investors and enthusiasts alike, the meme coin landscape experiences a resurgence driven by renewed interest and investor activity. With whales actively accumulating SHIB tokens, the stage is set for further excitement and volatility in the days to come.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!

Image Source: avirozen/123RF // Image Effects by Colorcinch

Will Izuchukwu

Will is a News/Content Writer and SEO Expert with years of active experience. He has a good history of writing credible articles and trending topics ranging from News Articles to Constructive Writings all around the Cryptocurrency and Blockchain Industry.

Share
Published by
Will Izuchukwu

Recent Posts

Best Crypto Presale To Buy Now: Rollblock Delivers For Holders With New License, Record Sign Ups and 7000+ Games

Rollblock is quickly becoming the best crypto presale to buy, delivering unmatched value for its…

3 hours ago

Polkadot And Uniswap Gearing For Post-Christmas Jump As Rollblock Raises $7.4 Million in Presale

While Rollblock's continues its crypto presale, with its value increasing regularly, Polkadot (DOT) and Uniswap…

4 hours ago

IntelMarkets (INTL) Receives Massive Demand From Chainlink And SUI Investors Looking To Position For The Best Bull Run Gains

As the cryptocurrency market gears up for a bull run, IntelMarkets (INTL) is attracting significant…

4 hours ago

FOMO Selling Trigger $1 Billion Liquidations as LINK & SOL Bleed Heavily; What to Do Next?

In the past, Chainlink (LINK) and Solana (SOL) have been among the most discussed altcoins…

9 hours ago

Qubetics $7.4M Presale Revolutionises Blockchain as Bitcoin and Chainlink Drive Innovation: Best Cryptos to Buy for 2025

The crypto market is abuzz with excitement as 2025 approaches. While Bitcoin continues to dominate…

15 hours ago

Best Altcoins to Buy Today: Why Qubetics’ Presale Could Be the Best Investment Opportunity of 2024

The cryptocurrency market never sleeps, and every day feels like an adventure. From household names…

21 hours ago