Shiba

Shiba Inu

Billion

Coin

The <a href="https://en.coin-turk.com/shiba-inu-price-prediction-for-2024-ai-platform-chatgpt-4s-forecast/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Shiba</a> Inu meme coin hosted a significant whale accumulation amidst a broader crypto <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">market</a> recovery in recent weeks, resulting in an approximate 20% increase in SHIB price over the month. In a notable whale transaction, on-chain data shows that a whale withdrew 600 billion Shiba Inu (SHIB) tokens from the cryptocurrency exchange <a href="https://en.coin-turk.com/binances-alleged-connection-with-commex-claims-and-facts/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Binance</a>.
<h2 id="whale-purchases-600-billion-shib-tokens">Whale Purchases 600 Billion SHIB Tokens</h2>
According to data from Lookonchain dated December 4, a newly created whale wallet made a striking transaction by withdrawing 600 billion SHIB tokens from the cryptocurrency exchange Binance. This Shiba Inu token move is worth $5.7 million and is much larger than other recent whale transactions.
<img decoding="async" class="aligncenter size-full wp-image-284301" src="https://coin-turk.com/wp-content/uploads/2023/12/shib-600-milyar-balina.jpg" alt="" width="1170" height="786">
Moreover, the first step towards becoming a whale was taken by this wallet last week, withdrawing 250 billion SHIB tokens worth $2.3 million from Binance. This accumulation by the whale triggered rumors of a price increase, and the SHIB price rose by 5%.
Despite all this, SHIB burning experienced a 90% decrease within 24 hours. A total of 108,618 SHIB tokens were burned in four transactions. The Shiba Inu community had maintained a strong stance by burning 1.3 billion SHIB last November, reducing the circulating supply.
<h2 id="shib-coin-price-increases">SHIB Coin Price Increases</h2>
Shiba Inu (SHIB) gave back some of its gains within 24 hours following a recent downturn, continuing to stay in the positive territory with a 0.33% increase. This could be attributed to whale accumulation and the price increase of BTC.
Before the last-minute drop, the SHIB price had increased by 10% in the last 24 hours and is currently trading at $0.00000905. The lowest and highest prices within the 24-hour period were $0.00000840 and $0.00000954, respectively. Additionally, the trading volume increased by 320% in the last 24 hours, reflecting a rise in trader interest.
The price of BONE also rose by more than 11% during this period, but the 24-hour increase rate fell to 0.08% after a drop at the time of writing. It is currently trading at $0.75, with the lowest and highest prices in the 24 hours being $0.691 and $0.781, respectively.
Disclaimer: The information in this article does not constitute investment advice. Investors should be aware of the high volatility of cryptocurrencies and conduct their transactions based on their own research. Continue Reading: <a href="https://en.coin-turk.com/whale-accumulation-in-shiba-inu-coin-amidst-crypto-market-recovery/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/whale-accumulation-in-shiba-inu-coin-amidst-crypto-market-recovery/</a>

Whale Accumulation in Shiba Inu Coin Amidst Crypto Market Recovery

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