Billion Shiba Inu grabbed by whale who already owns two trillion
The third largest whale on the Ethereum blockchain, tagged as “Tsunade”, bought 86 billion Shiba Inu tokens despite the memetoken’s anemic price performance. The transaction is valued at $2.3 million.
The wallet, which currently holds approximately $3.5 billion in various digital assets, made a large purchase while SHIB was struggling to breakout from the March 2 resistance. Unfortunately, the purchase did not help SHIB’s price.
Despite buying a large amount of tokens, Shiba Inu is not the biggest address holder. According to the wallet page WhaleStats, the biggest holding on the wallet is the “American Born Doge” token. The address currently holds $1.8 billion of USDOGE. The second place on the wallet is a PAXG token, which allows investors to be exposed to gold through digital assets.
The whale currently holds two trillion SHIB worth approximately $47 million.
Shiba Inu Market Performance
Despite a series of strong whale buying over the past month, Shiba Inu’s price momentum has slowed after hitting $0.000027. The highest point reached by the token in March was $0.000029, which was seen as strong psychological resistance as the token had already failed to break through at the start of the month.
As for technical indicators, moving averages on Shiba Inu almost had a so-called “death-cross,” which is essentially a crossing out of the 50- and 200-day moving average when the “shorter” MA falls below the “longer” one.
Thanks to the relief from the cryptocurrency market, the catch-up did not happen as SHIB gained around 30% in March, which led to the splitting of the moving averages. This formally leaves the token in a global uptrend.
