Newly-born Whale Adds 600 Billion Shiba Inu As SHIB Price Jumps

The newly-born Whale adds 600 billion Shiba Inu tokens to her portfolio as the SHIB price has jumped over 10% in the past 24 hours.

Lookonchain, a blockchain analytic tool, recently revealed that the nascent Whale has splurged $5,627,978 ($5.62 million) to acquire 599,997,752,046 (599.99 billion) Shiba Inu tokens from the renowned exchange, Binance. This massive accumulation occurred through two individual transactions about an hour ago from press time.

A fresh whale wallet withdrew 600B $SHIB($5.7M) from #Binance in the past 30 minutes.

Another wallet of this whale also withdrew 250B $SHIB($2.3M) from #Binance 9 days ago.https://t.co/mnZCbJne7khttps://t.co/DaUz1VaLAL pic.twitter.com/Hr5yE8ltKc

— Lookonchain (@lookonchain) December 4, 2023

This move brings the Whale’s total SHIB holdings to 600,005,771,717 (600 billion) tokens, worth $5,640,054 ($5.64 million), making her the 72nd largest Shiba Inu holder globally.

The gigantic transfer comes just nine days after a separate wallet linked to the large holder added 249,998,596,867 (249.99 billion) SHIB, equivalent to $2,300,000 ($2.3 million), to her portfolio in a single transaction.

Shiba Inu is on the brink of deleting a zero from its current price, with the relentless buying activity from top whale wallets contributing to this optimistic outlook. Moreover, the community is displaying unwavering commitment to reducing the colossal supply of SHIB, as earlier reported by The Crypto Basic, with enthusiasts torching 1,368,684,064 (1.36 billion) SHIB in the past month alone.

In addition, Shibarium, the L2 blockchain of the Shiba Inu ecosystem, has witnessed a significant uptick in daily transaction count since November 30. The latest data from Shibariumscan.io reveals that the network has successfully handled 7.84 million transactions within the last 24 hours, contributing to an overall transaction count of 29,165,132 (29.16 million). To provide context, the daily transaction count stood at 748K on November 30, escalated to 5.11 million on December 1, and reached 7.4 million on December 2.

In the wake of recent developments, SHIB has posted a remarkable performance in the past 24 hours. As of press time, Shiba Inu is trading at $0.000009543, marking a 10.32% increase in the last day. The 24-hour trading volume has surged to $610,845,478 ($610.84 million).