- A Shiba Inu whale bought 2.8 trillion SHIB tokens in one transaction.
- According to Etherscane, the transaction totalled $26.12 billion.
- The whale’s wallet showed $2.3 million worth of SHIB tokens from November 9 to 10.
Although Shiba Inu’s performance has ceased to improve since its last all-time high over a year ago, SHIB holders and investors continue to have full faith in the cryptocurrency. Recently, a notable Shiba Inu whale bought a whopping 2.8 trillion SHIB tokens in just one transaction.
The Etherscan transaction reveals that the total price amounted to $26.12 billion as per the SHIB value at the time of the trade. Moreover, when the whale’s wallet was carefully observed, it was unveiled that it garnered SHIB tokens worth approximately $2.3 million between November 9 and 10.
However, even after the transaction, the meme coin still demonstrated an unfit condition since SHIB encountered only a 1.57% increase in value in the last 24 hours.
Meanwhile, Shiba Inu’s price daily chart indicated that SHIB can potentially reclaim consistent bullish power, according to the Moving Average Convergence Divergence (MACD). This was enabled by the 12 to 26 Exponential Moving Average (EMA) close positioning on top of the histogram.
Although the strengths of sellers and buyers remained under the midpoint, the chart suggests that both are heading towards a positive space. Therefore, there is an opportunity of switching to bullish control given that the buying strengths rose higher than the sellers.
Moreover, the On-Balance-Volume (OBV) reading cited proximity to the bullish area displaying that another rise on the chart possibly means intense buying pressure.
According to data derived from the crypto analytics platform Santiment, Shiba Inu’s on-chain condition dropped sharply as per its exchange inflow which initially saw a 223 billion increase on December 8 and then fell to 25.16 on December 10.