- 2.8 trillion SHIB or $24.8 million worth of SHIB token bought by a SHIB whale on 9 December, 2022.
- Shiba Inu sees a gradual and steady growth in the daily active addresses count on the network.
- SHIB also sees a major spike in the network growth metric in the month of November 2022.
Shiba Inu has been a crypto project that has a wide variety of opinions regarding it. While proponents can empty their life’s savings to invest in this coin, while people on the opposite side of the spectrum won’t leave a chance to pull the project down. Very few other crypto project command this kind of polarity and Shiba Inu has embraced it wholeheartedly.
So in a world, especially in this bear market, where people are advising and cautioning against investing in memecoins, of which SHIB is the second largest by market capitalization – there are some people behind the scenes who truly find value in the SHIB token and are willing to put their money where their mouth is. $24.8 million worth of money, to be specific. Take a look at the image below.
According to data sourced from Etherscan.io, a whale bought up a whopping 2.8 trillion SHIB tokens all at one go, on 9 December, 2022. In dollar terms today, that is about $24.8 million worth of SHIB tokens picked up by this particular whale. That is a significant amount of money to be invested in a memecoin at a day and age where SHIB is at the lowest point in the past year!
SHIB TECHNICAL OVERVIEW
In conclusion, we can safely say that SHIB price is in a very tough spot right now, but there is something brewing behind the scenes in the second largest memecoin by market capitalization. While the exact reasoning behind this will be revealed in due course, one can clearly see some heavy action going on – ranging all the way from the 2.8 trillion SHIB being picked up by a whale to uptrend in daily active addresses and major spike in the network growth metric. Thus, despite the heavily bearish SHIB price action, it will be worthwhile for investors to keep an eye out on this token for future opportunities.
Prices as on 13 December, 2022.