Billions of Shib getting grabbed by top 10 wallets on Ethereum network
According to data from WhalesStatsthe fourth largest Ethereum blockchain wallet, purchased 51.4 billion Shiba Inu tokens, bringing the total USD holdings of the same currency to $1.19 billion.
The ETH whale tagged as “Tsunade” spent $1.1 million on his or her most recent Shiba Inu purchase while already having $2.9 billion worth of various cryptocurrencies on the balance sheet. The largest holdings in the wallet are USDOGE and PAXG cryptocurrency tied to the price of the gold.
Shiba Inu remains the most actively traded asset for the whale which has nearly doubled its holdings since late February. Previously, the whale wallet was worth around $3.6 billion, while its value recently rose to $8 billion.
SHIB recent performance
While whales have recently made many large purchases of Shiba Inu, the token’s performance on the market remains degraded, with no hints of any type of recovery as the token has remained in the downtrend for the last 145 days.
Along with an extended downtrend, SHIB has entered the descending triangle pattern, which should cause a spike in volatility once the asset breaks through either of the formation’s boundaries. Recently Shiba Inu failed to break the resistance line despite attempting to break the pattern on March 19th.
Previously, another large wallet purchased a record-breaking 3.7 trillion Shiba Inu tokens worth almost $90 million. The purchase has been made by one of the biggest SHIB holders on the Ethereum network.
