Despite the memetoken’s poor pricing performance, the third largest whale on the Ethereum network, known as “Tsunade,” purchased 86 billion Shiba Inu tokens. The transaction is worth $2.3 million.
While SHIB was battling to break through the March 2 resistance, the wallet, which presently owns around $3.5 billion in various digital assets, made a huge buy. Unfortunately, the purchase had no effect on SHIB’s stock price.
Despite purchasing a huge number of tokens, Shiba Inu is not the address’s largest holding. According to the WhaleStats wallet page, the “American Born Doge” token is the wallet’s largest holding. The location now possesses USDOGE worth $1.8 billion. The second token on the wallet is a PAXG token, which allows investors to have exposure to gold through digital assets.
The whale presently has two trillion SHIB, which is worth about $47 million.
Market performance of Shiba Inus
Despite a flurry of massive purchases by whales in the last month, Shiba Inu’s price movement has stalled after reaching $0.000027. The token’s highest point in March was $0.000029, which was deemed a severe psychological resistance because the token had already failed to break through at the start of the month.
Moving averages on Shiba Inu nearly had a “death-cross,” which is essentially a crossing out of the 50- and 200-day moving averages when the “shorter” MA goes below the “longer” one.
Because of the relief in the cryptocurrency market, the crossing out did not occur, as SHIB gained over 30% in March, resulting in the separation of moving averages. As a result, the token is officially in a global rise.