Data from CoinMarketCap shows that the Shiba Inu has significantly corrected its price over the past 24 hours in light of the correction in the cryptocurrency market. Shiba Inu price has increased by 3.32% in last 24 hours. However, according to Indian exchange CoinSwitch Kuber at the time of writing this, the Shiba Inu had gained 8.89% in price and was trading at ₹0.000919. The Shiba Inu, including the entire cryptomarket, suffered losses at the beginning of the week, but the token has been in the green for the past two days.
The reason for this increase in the price of Shiba Inu is also being said to be active of Shiba Inu whales. A report from WhaleStats says that 2 Ethereum whales have bought 534 trillion Shiba Inu tokens within the past few hours. This purchase has been done in three big transactions. An Ethereum whale named Gimli has bought 1.87 trillion Shiba Inu tokens in a single transaction. Their price is said to be more than $1.9 million. The Gimli Whale ranks 248 among the top Ethereum whales.
Gimli Ethereum Whale has been said to bet mostly on SHIB. It is said that the Shiba Inu is its largest holding. At present there are 391 trillion Shiba Inu tokens in this whale’s wallet. Furthermore, the WhaleStats report states that an Ethereum whale named BlueWhale0159 has purchased 1.47 trillion Shiba Inu tokens in the last 24 hours. Their value is said to be more than 1.5 million dollars. BlueWhale0159 is ranked 373rd among the top Ethereum whales.
These figures show that the activity of whales in the Shiba Inu token has increased significantly, which is being seen in its price. Shiba Inu is the second largest Mime cryptocurrency in the world by market capitalization. It has recently been listed on several international crypto platforms, which has further increased its popularity.
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