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Whales Bought Huge Amounts of SHIB



 Shiba Inu (SHIB) is an Ethereum-based altcoin known as a meme coin that features the hunting dog Shiba Inu.


It is seen by many as an alternative to the very popular cryptocurrency token Dogecoin (DOGE) and has a large number of supporters which is a community called SHIArmy.


Whales are scooping SHIB tokens on a large scale

According to a March 21 Twitter post by WhaleStats , a blockchain tracking website, Ethereum's fourth-largest known whale known as "Tsunade" has purchased 1,440,208,121 SHIB tokens, worth $1,185,696 at the time of purchase were worth. This was done through a single transaction.


However, he is not the only whale to do so. According to a March 19 WhaleStats Twitter post, a mysterious ETH whale, ranked 216th on WhaleStats, bought 3,713,675,424,944 SHIB tokens, which were worth $89,128,210 at the time of purchase.


Earlier, on March 16, another mystery whale bought 271,370,420,624 SHIB tokens, which were worth $271,370,420,624 at the time of purchase.


While there have been numerous other purchases, we can clearly see a pattern with whales hoarding SHIB tokens in bulk.


This has led to a question from many investors, and that question is how this massive buying trend will affect the value of the SHIB token.


Should You Buy Shiba Inu (SHIB)?

On March 22, 2022 Shiba Inu (SHIB) was valued at $0.00002358.


To get an indication of what this value point means for the Shiba Inu (SHIB) token, we're going to go over the token's all-time high as well as the performance it has shown over the past month.


If we go above the Shiba Inu (SHIB) token's all-time high, we can see that it was on October 28, 2021 when it reached a value of $0.00008616.


This gives us perspective that the token was worth $0.00006258 at its ATH, or 265% higher.


If we look at the token's performance over the previous month, Shiba Inu (SHIB) had its highest value on February 7 when it touched $0.00003477.


However, its lowest value was on February 24, when the token fell to a value of $0.00002166. This meant the token lost $0.00001311 in value, or 37%.



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