Shiba Inu (SHIB), one of the top tokens, unexpectedly had a tremendous increase of over 18% in the previous week. The fact that there were no obvious fundamental explanations for this spike in price of SHIB just makes it more perplexing.
Shibarium hasn’t received any significant press or endorsements, yet there might be something that explains this extraordinary event. Jump Trading, a well-known trading business and market maker, saw a stunning gain of 364.82 billion SHIB between June 12 and 15, only on its own.
Whether this pattern will continue in the following week is the unanswered question at this point. If Jump Trading stops acquiring SHIB tokens at this time, it may mean that there is a connection between the rate of SHIB and the larger market. However, taking into account the bigger picture, it seems that the stoppage in key players’ wallet replenishment may just be a brief interruption.
When comparing Jump Trading’s wallet’s current value, which is around 6.12 trillion SHIB, to the 1.17 trillion SHIB amount in July 2022, it is clear that the token’s growth has been astounding, nearly doubling in size in a single year.
