Shiba

Shiba Inu

Zero

Billion

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According to data shared by blockchain sleuth @lookonchain, a fresh whale wallet has bought a massive lump of meme coins — 136.86 <a href="https://u.today/massive-546-billion-shiba-inu-shib-withdrawn-from-binance-as-whales-capitulate" rel="noopener noreferrer nofollow">billion SHIB</a> in total. This amount of Shiba Inu is evaluated at approximately $1.38 million.
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 A fresh whale wallet accumulated 136.86B <a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SHIB</a>(1.38M) 30 mins ago.In the past month, <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> has increased by 9.78%, <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a> has increased by 16.09%, while <a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SHIB</a> has only increased by 4.86%.And 4 whales have accumulated a total of 2.39T <a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SHIB</a> ($24.15M) from exchanges in the past… <a href="https://t.co/NKLz8AhGfV" rel="noopener noreferrer nofollow">pic.twitter.com/NKLz8AhGfV</a>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1745361421817508240?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">January 11, 2024</a>
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This is not the only new whale acquiring staggering amounts of SHIB this year. As reported by U.Today, a “newly born” cryptocurrency whale accumulated a whopping 546 billion SHIB on Binance — the equivalent of almost $10 million.
Further, Tron founder and now owner of Poloniex and Huobi exchanges Justin Sun recently bought a massive amount of Shiba Inu on the Binance exchange — <a href="https://u.today/500-billion-shib-moved-by-tron-founder-clarified-by-shib-rep-heres-exciting-part" rel="noopener noreferrer nofollow">half a trillion of it</a>. A member of the Shiba Inu team, @vetkusama, shared two likely reasons why Sun could have done that.
The first one was that he perhaps wanted to conduct a personal SHIB burn and transfer that 500 billion SHIB to unspendable blockchain addresses. The second one was that Sun may be considering setting up a bridge between the Tron and Shibarium blockchains. No statements about either option followed from Justin Sun, though.
<h2 id="shib-price-eliminates-zero">SHIB price eliminates zero</h2>
@lookonchain added that, over the past month, the second largest canine-themed cryptocurrency by market capitalization value, SHIB, staged only a 4.86% increase, while Bitcoin surged by 9.78%, and the second biggest coin, Ethereum, showed a 16.09% rise.
However, during the last 24 hours, the Shiba Inu price skyrocketed by more than 12%, eliminating a zero and <a href="https://www.tradingview.com/symbols/SHIBUSDT/" rel="noopener noreferrer nofollow">reaching the $0.00001030</a> level, where it is trading at the time of this writing.
SHIB's sudden growth was propelled by the news of the U.S. Securities and Exchange Communism finally giving the <a href="https://u.today/breaking-sec-officially-approves-spot-bitcoin-etfs-btc-price-unfazed" rel="noopener noreferrer nofollow">green light to spot-based Bitcoin ETFs</a>. Eleven Wall Street companies filed for it last year, with Ark Invest and BlackRock being the earliest of them.
As for the Bitcoin price itself, on Wednesday, it jumped 7.75% to reach $47,700 briefly. However, this price jump was followed by a 4.43% correction, which pushed BTC down to $45,633. By now, Bitcoin has shown another increase, rising 2.15% to start trading at $46,645.
The next largest cryptocurrency after Bitcoin, Ethereum, has demonstrated a much bigger increase, soaring by more than 11% and exchanging hands at $2,626 at the time of this writing.

136.86 Billion SHIB Grabbed by Fresh Wallet as Price Burns Zero

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