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Blockchain data analysis platform Santiment has reported in a tweet that wallet holders with large amounts of SHIB, particularly sharks and dolphins, have been accumulating SHIB. According to Santiment, sharks and dolphins holding between 10 million and 100 billion SHIB tokens have accumulated SHIB tokens with a market value of over $9 million in less than eight weeks.
They Bought 1.11 Trillion SHIB!
Santiment shared an image on Twitter referring to the fact that sharks and dolphins holding between 10 million and 100 million SHIB Inu tokens have purchased 1.11 trillion tokens since June 4.
“Shiba Inu has been a surprising winner in the final hours of a dull trading week. Wallets holding between 10 million and 100 billion SHIB tokens have accumulated $9 million in less than eight weeks. This is a significant amount for the 14th ranked cryptocurrency.”
Developments in Shiba Inu
Shiba Inu experienced a surprising surge on Friday, reaching 0.00000845. With the continued surge until the market close, SHIB traded at 0.00000821, representing a 5.55% increase in the last 24 hours.
The trading volume of Shiba Inu saw a tremendous increase of 282% in the last 24 hours as investors entered the market to take profits. Due to the price increase, the dog-themed Shiba Inu token also climbed in the rankings of cryptocurrency. According to CoinMarketCap, SHIB became the 14th largest cryptocurrency with a current market value of $4.84 billion.
According to Santiment, the price increase in Shiba Inu may be attributed to whale transactions. Santiment stated in a tweet that Shiba Inu saw a price increase over the weekend with the help of mid-tier holders who have been accumulating for two months.
With all this positive news, Shiba Inu continues to gain attention on social media. SHIB has reached the top of the LunarCrush Altranking list based on social and market activity.
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