A significant crypto investor, known as a "whale," has acquired a massive $6 million worth of Shiba Inu (SHIB) tokens in just 24 hours. This purchase involved 708.41 billion SHIB tokens, valued at $5.99 million, acquired from the Gemini cryptocurrency exchange in a single transaction. This comes shortly after another whale moved 4.67 trillion SHIB tokens, valued at around $38.7 million, in a single transaction. Wealthy SHIB holders have accumulated approximately 5 trillion SHIB tokens, equivalent to $44 million, over the past week.
This surge in whale activity follows the launch of Shibarium, a Layer 2 solution for Shiba Inu, which garnered significant attention from global investors and exchanges. CoinGecko currently ranks SHIB as the second most trending cryptocurrency globally, trailing only behind PEPE and surpassing Dogecoin.
WazirX, a major cryptocurrency trading platform in India, recently ranked SHIB as the fifth most traded cryptocurrency on its exchange in July.
Furthermore, Binance's launch of its crypto payment platform, Binance Pay, in Brazil, the largest community of cryptocurrency users, could potentially drive mass adoption of SHIB.
WireX, an innovative banking alternative, also added SHIB to its platform, giving millions of users access to SHIB for purchasing, trading, and spending at numerous global retailers.
The number of SHIB holders has surged past 2.4 million, indicating increased interest and activity in the token. Despite these developments, SHIB's price remained relatively stable, trading at $0.0000073 at the time of the report, reflecting a 3.14% decrease in the past 24 hours, according to CoinMarketCap data.
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