Moonshot

Million

Shiba Inu

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<p dir="ltr">In the past week, large holders of Shiba Inu, commonly known as "whales," have accumulated around $100 million worth of the cryptocurrency, according to&nbsp;<a href="https://twitter.com/intotheblock/status/1699019935261905067" rel="noopener noreferrer nofollow">analytics firm IntoTheBlock</a>.</p> 
<p dir="ltr">Shiba Inu's current price stands at $0.00000759 with a market cap of approximately $4.47 billion, according to data from CoinGecko.</p> 
<h2 dir="ltr" id="catalysts-on-horizon">Catalysts on horizon</h2> 
<p dir="ltr">The attention on Shiba Inu is not entirely surprising; the token's newly launched Shibarium Layer 2 solution has&nbsp;<a href="https://u.today/shibarium-surpasses-1-million-wallets-as-millions-of-shib-go-up-in-flames" rel="noopener noreferrer nofollow">recently surpassed</a> one million transactions and wallets, indicating heightened activity and use case scenarios.</p> 
<p dir="ltr">Despite this&nbsp;<a href="https://u.today/shiba-inu-lead-shytoshi-kusama-teases-major-shibarium-milestone" rel="noopener noreferrer nofollow">significant milestone</a> and the massive accumulation by whales, the price of Shiba Inu has yet to move substantially, a reality largely attributed to broader crypto market woes.</p> 
<p dir="ltr">However, these two factors — the success of&nbsp;<a href="https://u.today/shibarium-surpasses-1-million-wallets-as-millions-of-shib-go-up-in-flames" rel="noopener noreferrer nofollow">Shibarium</a> and the large-scale buying by significant holders — could prove to be massive catalysts for future price action, capturing the attention of both retail and institutional investors.</p> 
<h2 dir="ltr" id="big-holders-big-risks">Big holders, big risks</h2> 
<p dir="ltr">Data regarding ownership concentration shows that 11 whales hold a staggering 62.48% of the total SHIB supply, which translates to 613.85 trillion&nbsp;<a href="https://u.today/heres-why-shiba-inu-shib-trading-volume-crash-is-good-news" rel="noopener noreferrer nofollow">SHIB</a>. On the other side of the spectrum, a broader pool of 48 investors holds about 14.83%, or 145.69 trillion SHIB.</p> 
<p dir="ltr">A handful of investors have a significant say in the asset's direction, and it leaves the meme coin vulnerable to massive sell-offs should these&nbsp;<a href="https://u.today/top-btc-whales-set-three-year-record-details" rel="noopener noreferrer nofollow">whales</a> decide to cash in.</p> 
<p dir="ltr">Over the past week, large holder inflow has skyrocketed by 1,512.63%, though it is worth noting that the 30-day change has seen a dip of 10.08%.</p>

Shiba Inu Whales Just Grabbed $100 Million — Is Moonshot Imminent?

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