Whales resume buying Shiba Inu tokens

by in Cryptocurrency News

SHIba Inu

The Shiba Inu (SHIB) token soared 10% last Tuesday. Cryptocurrency capitalization reached $ 18.8 billion.

Altcoin began to rise in price against the backdrop of a surge in the activity of large SHIBA wallets. One of the whale addresses spent $ 134 million buying 4 trillion Shiba Inu tokens earlier this week, according to WhaleStats.

As the researchers note, it was this investor who pushed the coin up. SHIB is currently on the list of the most popular cryptocurrencies among the whales using the Ethereum network.

This cryptocurrency hit the market in the middle of last year. It was created as a comic project, but thanks to the support of Tesla CEO Elon Musk, altcoin showed explosive growth in the spring of this year.

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In October, the token set a record in the region of $ 0.00008616, having soared by 153,857,000% over the year. The coin even made it into the top ten digital currencies.

The growing interest of whales in SHIB suggests that they are confident in its breakthrough very soon.

SHIB is the main competitor to Dogecoin (DOGE), in the promotion of which the same Elon Musk periodically participates.