The Coin Leaks News: As per to IntoTheBlock data Shiba Inu has seen its large transactions increase by 68% over the past 24 hours. Transaction spikes of large magnitude are often linked to rising activity from institutional players or whales who are either selling or buying. According to IntoTheBlock, these transactions exceed $100,000 in value.
🏆 Top 10 purchased tokens by 500 biggest #ETH whales today
— WhaleStats – BabyWhale ($BBW) (@WhaleStats) May 11, 2022
Shiba Inu saw a rebound on May 10, as large holders or whales bought the dip in the midst of its plunge to $0.000013 at the May 9 cryptomarket carnage. According to WhaleStats, Shiba Inu was the eighth most-purchased asset by top 500 ETH whales.
🐳 ETH whale "BlueWhale0073" just bought 191,883,317,886 $shib ($3,098,915 USD).
Ranked #210 on WhaleStats: https://t.co/RBupemZyZX
— WhaleStats – BabyWhale ($BBW) (@WhaleStats) May 10, 2022
The blockchain data tracker reports that BlueWhale0073, an ETH whale, purchased 191,883,317.886 SHIB within the last 24hrs. This transaction was valued at $3098,915.
SHIB seems to have given up this position to Synthetix, SNX. The price of Shiba Inu plummeted in a new market selloff on May 11, reaching lows of $0.0000112; this suggests that top whales are looking for an easy entry point to the buying market.
Shiba Inu is the top-holding ETH wallet with the highest 1,000 ETH wallets. These whales collectively hold $898.934,389 SHIB. After falling to $0.000011 intraday, Shiba Inu has attempted a rebound.
SHIB traded at $0.000014 at the time of publication. This is still a 14.8% drop in 24 hours, according to CoinMarketCap data. Despite the recent plunge in SHIB, Shiba Inu continues its appeal to more holders. WhaleStats reports that the current total number of SHIB owners is 1,148,721. This represents an increase of more than 9,000 holders since May’s start.
According to a Shiba Inu blog, the main financial components of Shiba Inu, Shibarium and SHIBFE are currently in development and close to being completion. Shytoshi Kusama, Shiba Inu’s lead developer, states in the blog post that “I refuse to give any concrete dates at the moment, but I expect one or more of these technologies prior to the end of the summer or very early autumn.”