Volatility was written all over the Shiba Inu [SHIB] market. The crypto-verse was recuperating from its latest fall. Despite the market sentiment, whales were splurging on meme coins and Shiba Inu happens to be their favorite.
Shiba Inu is a popular cryptocurrency among Ethereum [ETH] and Binance Smart Chain [BSC] whales. SHIB was purchased for approximately $1.5 million by an ETH whale who chose to take advantage of the meme coin’s deteriorating price. The whale had bought almost 47 billion SHIB tokens, according to WhaleStats.
In the transaction, Ethereum wallet address 0x1c17622cfa9b6fd2043a76dfc39a5b5a109aa708 sent 47,743,646,900.2924 ($1,288,325) Shiba Inu token to Ethereum wallet 0x2ee555c9006a9dc4674f01e0d4dfc58e013708f0.
As a result of the increased activity in the SHIB market, the meme coin had risen to 5th place as the most purchased among the top 1000 ETH wallets. In addition, among the richest ETH wallets, SHIB ranked second after ETH as the most held asset.
Furthermore, the meme coin was trading for $0.00002734, at press time, up by 7.77 percent in the previous 24-hours. When compared to other assets in the market, this figure was relatively high.
Shiba Inu joins other assets on Binance Custody
The world’s largest crypto exchange, Binance has been at the forefront of updates and developments surrounding the crypto-verse. The exchange has always been quick to onboard new cryptocurrencies. Hence, Shiba Inu landed a spot on the platform. Now, Binance decided to take a step ahead and add support for the meme coin on its Binance Custody wing.
Binance jumped onto the custody services wagon with its counterpart, Gemini back in December 2021. Recently, Binance Custody rendered support for assets like WINkLink [WIN], Zilliqa [ZIL], Immutable X [IMX] as well as Gala [GALA]. Now, further expanding this list, the exchange included Shiba Inu, Audius [AUDIO], Perpetual Protocol [PERP], SKALE Network [SKL] with Injective [INJ].
The exchange took to Twitter to make this announcement. The tweet read,