Shiba Inu: Shibarium on the Brink as Whales Accumulate 11 Trillion SHIB

Vignesh Karunanidhi
Mystery Shiba Inu Whale Snaps Up $444K in SHIB Amid Recent Rally
Source: Analytics Insight

Shiba Inu, a meme coin with a growing fanbase, has attracted significant attention in the cryptocurrency community. Alongside Dogecoin, it has become a noteworthy contender, and the SHIB team has been proactive in various community endeavors.

In particular, these initiatives, including the much-awaited Shibarium, have contributed to the increase in the price of Shiba Inu. The latest data from IntoTheBlock has revealed that there has been a whopping accumulation of 11.11 trillion SHIB in the last 48 hours.

Also read: PayPal Enters Stablecoin Realm With PYUSD

Shiba Inu whales accumulate in anticipation of Shibarium

On Saturday, the Shiba Inu ecosystem experienced a significant transformation. The number of SHIB flowing into whale wallets increased dramatically by 3,148% compared to the previous day.

Coinciding with this surge in influx, there was a corresponding decline in outflows from the wallets of prominent Shiba Inu investors. Within a 24-hour period, there was a remarkable 94.61% drop in the value of outflows. This reduced the amount from 7.21 trillion SHIB to just 388.07 billion SHIB.

Source: IntoTheBlock

CoinMarketCap data shows that SHIB is the only coin trading in the green in comparison to its performance over the last seven days. SHIB is up by 6.3% in the last seven days and is trading at $0.000009003 at press time.