According to WhaleStats and TradingView, an unnamed Shiba Inu whale has made a huge buy for around $1 million as the memetoken near the local low.
The wallet made a huge purchase on March 5 at 5:00 a.m. UTC, according to data from whale-tier wallet tracking site WhaleStats. The receiving address now has a total of $109.2 million in tokens, including Shiba Inu, USDT, SAND, and MANA.
Tether’s USDT stablecoin on the Ethereum blockchain is the whale’s second-largest stake. Unfortunately, the wallet is not featured on WhaleStats’ list of the largest Ethereum addresses, thus there is no way to determine the wallet’s performance, and specifically the Shiba Inu position.
The market performance of SHIB
Shiba Inu has entered the zone of the local bottom of $0.000023, as well as the 200-day moving average line, which has been working as a support zone for the token, according to TradingView.
Previously, SHIB had bounced from it to $0.000028 with the help of the market’s resurgence. Unfortunately, the whale’s massive purchase did not help the memetoken, which has a market valuation of $12.9 billion.
The coin is currently trading at $0.00002375 and has lost about 4% of its value in the last 24 hours. The market sentiment remains neutral, with certain holdings increasing in value by up to 9%, while others trade at a 1-2% premium.