Ethereum Whale Bought 500 Billion Shiba Inu (SHIB) Amid Market Dip

Bahrain-based Prominent Exchange ‘Rain’ Lists Shiba Inu (SHIB)
  • Shiba Inu has been down 10.26% in the last 24 hours.
  • SHIB was amid a comeback rise over the weekend.

The worldwide cryptocurrency market capitalization is $1.55 trillion, representing a 5.26 percent fall from the previous day. Bears are in control of the market, with major currencies trading in the red. At this time, whales have opted to boost their holdings and significantly bought Shiba Inu tokens as a wallet acquired half a trillion of these digital assets. Shiba Inu was amid a comeback rise over the weekend, which came to an abrupt halt as soon as financial markets opened on Monday.

The whale’s purchase might have been aimed to revive the market slump and promote the market’s rebound. SHIB could not be saved from following the overall market trend, despite a substantial buy.

FTT Token Seized the Top Spot

Shiba Inu’s price fell to a level not seen since the beginning of October 2021 after rising by over 16 percent over the weekend. While the meme token was “trying” to reclaim its first position as the largest holding on whale-tier Ethereum wallets, the FTT token seized the top spot with $1.3 billion worth of tokens owned by whales. 

Read More: Shiba Inu Price Prediction

The value of Shiba Inu holdings had plummeted dramatically in the wake of the most recent market decline and is currently estimated at $1.1 billion, the lowest value since the 1000 percent run in October when whales had tokens worth about $1.2 billion. According to CoinMarketCap, the Shiba Inu price today is $0.000020 USD with a 24-hour trading volume of $1,680,422,020 USD. Shiba Inu has been down 10.26% in the last 24 hours.

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