Whales, sharks, and shrimps, seem to be accumulating Shiba Inu this year despite the constant price dip. Recent data from IntoTheBlock shows that the average large transactions for SHIB jumped to $11,000 in 2023. A typical average large transaction stood at $7,000 last year. The indicator suggests that investors are keen on accumulating millions of SHIB tokens and pushing to hold large quantities.
The sudden rise in spending more to accumulate Shiba Inu could be due to the Shibarium beta release. Investors could be taking an early entry position before the mainnet goes live to reap the rewards.
Shiba Inu is currently trading at $0.00001132 and an $11,000 investment could fetch holders 970 million SHIB tokens. The previous $7,000 investment made investors accumulate 618 million tokens in 2022.
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Shiba Inu: The wait for the Shibarium mainnet launch
The Shibarium mainnet launch date has not been confirmed by the team as of yet. The beta testing phase could remain in place for a minimum of four months, revealed the lead developer of ShibaSwap, Shytoshi Kusama. Read here to know more details about the Shibarium mainnet release date.
Also, when the shibarium beta was released last week, whales dumped nearly 10 trillion tokens. The reason for the sell-off remains to be unknown. SHIB’s price dipped the week Shibarium beta was launched due to the large dumping by the ETH whale community. You can read more details about the development here. Nonetheless, Shiba Inu gained steam after Bitcoin and the overall forged ahead towards $25,000 this week.
Also Read: Early Bitcoin Adopter Urges Investors To Buy SHIB
At press time, Shiba Inu was trading at $0.00001132 and is up 2.8% in the 24-hour day trade. However, SHIB is down 86.85% from its all-time high of $0.00008616, which it reached in October 2021.