The balance of Shiba Inu (SHIB) held by whales is getting bigger as one whale adds 53 billion tokens.
WhaleStats reports that an Ethereum whale has added 53 billion Shiba Inu ($2,008,890) to its holdings. The average balance of SHIB held by large Shiba Inu owners is up 8%, according to data provided by the whale watching website. The price of the Shiba Inu has risen nearly 7% in the last 24 hours as positive investor sentiment spread over the pre-holiday markets in line with the overall market recovery.
Whale accumulation seems to play a key role in the Shiba Inu’s rise from $0.00002820, its lowest level since Dec. In addition, the top 100 Shiba Inu owners have increased their portfolios, according to WhaleStats data. traders in this category have an 8% increase in their average SHIB balance. SHIB’s net flow also showed an incredible 629% increase, showing healthy metrics.
Shiba Inu Price Action
The Shiba Inu surged from the low of $0.00002820 on Dec. 20 to as high as $0.000040 before a slight pullback to where it was trading at $0.0003850 today. The Shiba Inu is down nearly 60% from its all-time high.
The Shiba Inu network is growing by welcoming more than 85,293 new users after hitting one million a little over a month ago, bringing the current owner count to 1,085,293.