{"id":25377,"date":"2023-06-13T18:52:53","date_gmt":"2023-06-13T22:52:53","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=25377"},"modified":"2023-06-13T18:52:53","modified_gmt":"2023-06-13T22:52:53","slug":"crypto-frenzy-whale-accumulates-1-5-trillion-shib-sparking-surge-in-price","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/06\/13\/crypto-frenzy-whale-accumulates-1-5-trillion-shib-sparking-surge-in-price\/","title":{"rendered":"Crypto Frenzy: Whale Accumulates 1.5 Trillion SHIB, Sparking Surge In Price"},"content":{"rendered":"

The bustling realm of cryptocurrencies is abuzz with a major development centered around Shiba Inu (SHIB). This news broke as Lookonchain, an on-chain analyst platform, reported<\/a>\u00a0a transaction involving a significant accumulation of Shiba Inu tokens by a major holder. <\/p>\n

This transaction took place on notable exchanges such as Binance<\/a> and Coinbase and has made waves in the crypto community.<\/p>\n

According to Lookonchain\u2019s data, a SHIB holder, identifiable by the address \u201c0x40B3,\u201d has recently added a colossal 1.5 trillion SHIB tokens to their portfolio. At current market rates, this acquisition equates to approximately $10 million.<\/p>\n

A History Of Accumulation<\/h2>\n

Notably, this particular holder, \u201c0x40B3,\u201d has a history of substantial SHIB purchases<\/a>. The holder had previously acquired 5.3 trillion Shiba Inu tokens, translating to around $35.5 million. On May 16, \u201c0x40B3\u201d made a transfer of 20 trillion SHIB tokens to another address, \u201c0x73AF,\u201d amounting to roughly $134.4 million.<\/p>\n

Related Reading: Shiba Inu (SHIB) Price At The Most Crucial Point In Its History?<\/a><\/p>\n

Owing to these sizable transactions, \u201c0x40B3\u201d has garnered attention within the crypto ecosystem. The scale of their holdings, rendering them the largest nonexchange holder of Shiba Inu, emphasizes their influence on the SHIB market<\/a>.<\/p>\n

Impact On The SHIB Market<\/h2>\n

The acquisition of the recent 1.5 trillion SHIB tokens by \u201c0x40B3\u201d had an immediate effect on the SHIB price. In just 15 minutes following the acquisition, the price of Shiba Inu surged over 1.5%. This brief window of time encapsulated the influence wielded by \u201cwhales,\u201d or large-scale investors, over the price volatility in the cryptocurrency markets.<\/p>\n

Moreover, the SHIB price<\/a> appears to be on a recovery path, with an uptick of nearly 25% since its recent low of $0.00000591 last Saturday. This rebound illustrates the dynamism of the cryptocurrency market and the significant role large investors play in shaping it.<\/p>\n

Meanwhile, Shiba Inu has shown a continuous uptick in the past 24 hours. SHIB which is one of the largest meme coins by market capitalization has recorded a brewing rally up by 3% in the past 24 hours.<\/p>\n

At the time of writing, Shiba Inu currently trades at $0.00000678 after trading below $0.00000600\u00a0on Tuesday. Interestingly, despite the current uptick, SHIB\u2019s trading volume has plunged a bit from $185 million this time last week to $104 million in the past 24 hours.<\/p>\n

However, the meme coin\u2019s market capitalization has seen a more than $700 million loss in the past 7 days. SHIB\u2019s market cap has plunged from $4.7 billion last Tuesday to $3.9 billion as of today.<\/p>\n

In other news, the upcoming launch of Shibarium has cast a cloud of uncertainty<\/a> over the Shiba Inu community due to some recent developments. Initially, LucieSHIB, a well-known advocate for Shiba Inu, set expectations for the launch of the eagerly awaited Shibarium mainnet, suggesting a timeframe between the second and third quarters of 2023.<\/p>\n

Nonetheless, according to recent posts<\/a> from the same individual, the launch might experience a postponement from its initial projected timeline, causing a wave of speculation among market participants and aficionados.\u201d<\/p>\n

Featured image from Shutterstock, Chart from TradingView<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

The bustling realm of cryptocurrencies is abuzz with a major development centered around Shiba Inu (SHIB). This news broke as Lookonchain, an on-chain analyst platform, reported<\/a>\u00a0a transaction involving a significant accumulation of Shiba Inu tokens by a major holder. <\/p>\n

This transaction took place on notable exchanges such as Binance<\/a> and Coinbase and has made waves in the crypto community.<\/p>\n

According to Lookonchain\u2019s data, a SHIB holder, identifiable by the address \u201c0x40B3,\u201d has recently added a colossal 1.5 trillion SHIB tokens to their portfolio. At current market rates, this acquisition equates to approximately $10 million.<\/p>\n

A History Of Accumulation<\/h2>\n

Notably, this particular holder, \u201c0x40B3,\u201d has a history of substantial SHIB purchases<\/a>. The holder had previously acquired 5.3 trillion Shiba Inu tokens, translating to around $35.5 million. On May 16, \u201c0x40B3\u201d made a transfer of 20 trillion SHIB tokens to another address, \u201c0x73AF,\u201d amounting to roughly $134.4 million.<\/p>\n

Related Reading: Shiba Inu (SHIB) Price At The Most Crucial Point In Its History?<\/a><\/p>\n

Owing to these sizable transactions, \u201c0x40B3\u201d has garnered attention within the crypto ecosystem. The scale of their holdings, rendering them the largest nonexchange holder of Shiba Inu, emphasizes their influence on the SHIB market<\/a>.<\/p>\n

Impact On The SHIB Market<\/h2>\n

The acquisition of the recent 1.5 trillion SHIB tokens by \u201c0x40B3\u201d had an immediate effect on the SHIB price. In just 15 minutes following the acquisition, the price of Shiba Inu surged over 1.5%. This brief window of time encapsulated the influence wielded by \u201cwhales,\u201d or large-scale investors, over the price volatility in the cryptocurrency markets.<\/p>\n

Moreover, the SHIB price<\/a> appears to be on a recovery path, with an uptick of nearly 25% since its recent low of $0.00000591 last Saturday. This rebound illustrates the dynamism of the cryptocurrency market and the significant role large investors play in shaping it.<\/p>\n

Meanwhile, Shiba Inu has shown a continuous uptick in the past 24 hours. SHIB which is one of the largest meme coins by market capitalization has recorded a brewing rally up by 3% in the past 24 hours.<\/p>\n

At the time of writing, Shiba Inu currently trades at $0.00000678 after trading below $0.00000600\u00a0on Tuesday. Interestingly, despite the current uptick, SHIB\u2019s trading volume has plunged a bit from $185 million this time last week to $104 million in the past 24 hours.<\/p>\n

However, the meme coin\u2019s market capitalization has seen a more than $700 million loss in the past 7 days. SHIB\u2019s market cap has plunged from $4.7 billion last Tuesday to $3.9 billion as of today.<\/p>\n

In other news, the upcoming launch of Shibarium has cast a cloud of uncertainty<\/a> over the Shiba Inu community due to some recent developments. Initially, LucieSHIB, a well-known advocate for Shiba Inu, set expectations for the launch of the eagerly awaited Shibarium mainnet, suggesting a timeframe between the second and third quarters of 2023.<\/p>\n

Nonetheless, according to recent posts<\/a> from the same individual, the launch might experience a postponement from its initial projected timeline, causing a wave of speculation among market participants and aficionados.\u201d<\/p>\n

Featured image from Shutterstock, Chart from TradingView<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-25377","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/25377","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=25377"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/25377\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=25377"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=25377"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=25377"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}