• Wed. May 22nd, 2024

One Big Whale Bought 131 Billion Shiba Inus At Critical Support

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Mar 7, 2023

A so-called “Ethereum whale” was the one who carried out the transaction that involved 131 billion Shiba Inu (SHIB) tokens.

The timing of this news couldn’t be better, as the price of Ethereum had been trending upwards immediately before it broke. This new information couldn’t have arrived at a better moment.

A cryptocurrency database tracker places this ETH whale at position #254 among all other ETH whales. It just made a single purchase, yet that one transaction was worth an astonishing 131,477,192,339 SHIB.

Overall, the transaction came to a total of $1,481,747. The price tag was set at that level since that’s how much it was worthwhile for the deal was being finished.

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Throughout the course of the whole week, SHIB was susceptible to opportunities for profit-taking. In a transaction worth $1,162,330 at the time, an Ethereum whale with the alias “BlueWhale0068” bought 91,956,507,830 SHIB.

Shiba Inu Dog Breed Has the Highest Cash Value Token

Among the top 100 ETH whales, Shiba Inu still holds the position of having the highest token position in terms of dollar value. This position continues to be held by Shiba Inu.

This is a direct result of the curiosity that whales have displayed in regard to SHIB. According to data mined from publicly available, the top 5,000 ETH holders collectively have a whopping 606,553,503 SHIB.

It is possible that the approaching arrival of Layer 2 Shibarium has anything to do with the whales’ attitude towards SHIB.

SHIB development head Shytoshi Kusama recently tweeted about “wrapping off” a mission. He mentioned that he was occupied with something at the time.

On Twitter, he shared a link to the song “La Vedo Nera,” which was composed by the Italian musical duo Dueuno. Dueuno is responsible for the melody.

During the time that we are wrapping up, this is the message that will be played over and over again. Dueuno was the artist who performed the song. The Silvergate bank has been hit hard by the cryptocurrency market’s decline on March 3.

Important Support Level Reached For SHIB Pricing

Shiba Inu made contact with $0.00001092, which is the key support provided by the daily MA 200. The reason for the price’s elevation is that something occurred.

The excitement that had been building up around the Silvergate bank was at a fever pitch when this event took place. At the present moment, SHIB is selling at a rate that is noticeably higher in comparison to this crucial support level.

In spite of the fact that the bulls are exerting their best effort to regain control of the territory. The bulls have not been successful thus far despite the fact that it was originally theirs.

It is simply not even comparable to being on the same level as this. The price of SHIB has decreased, albeit only somewhat, but not by much. It spans a full twenty-four hours from beginning to end without a break.

Everything that happened up to the point where this article was written was a part of it. After an earlier reduction, it is currently at $0.00001132, down from what it was before.

There is a chance that SHIB will make an effort to compete in the short-term obstacle. It is located close to the sum of 0.00000124 dollars.

“Retaking land” refers to the process through which the bulls are considered to have been successful in their efforts to reclaim ground. In addition to this, there is the possibility that SHIB will initially arrive at a level of stability.

It takes place immediately before making a big modification, in either the positive or the negative direction. Before the concept of making the adjustment could even be considered, this situation would need to be rectified first.

It is approximately comparable to the price at which it is being offered for sale at the present time. In addition, this step needs to be taken before any significant changes are made in any of the directions.

Before moving on to the following phase, it is necessary to finish off this one first.

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