SHIB Soars 10% As Whale Buys 219 Billion Tokens
April 26 2022 - 4:00PM
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BlueWhale0073, an Ethereum investor, continues to invest in Shiba
Inu, purchasing 219 billion meme tokens. The whale also made a
purchase of 50 billion SHIB on 20th April. His most recent
acquisition of the canine cryptocurrency is almost 5x bigger than
the one made last week. WhaleStats has confirmed that an impressive
amount of SHIB (219,332,229,787) equivalent to $5,454,792 was sent
to the whale’s wallet. He had earlier added 86 billion SHIB worth
$2,111,500 to his wallet on April 23. Related Reading |
Dogecoin (DOGE) Jumps 30% After Elon Musk Buys Twitter The owner of
the “BlueWhale0073” wallet is one of the biggest buyers of SHIB.
The whale has bought over 2 trillion Shiba Inu between April 10 and
April 23. However, the transaction page shows that the whale
has already sold most of his SHIB tokens, leaving him with less
than one billion Shiba Inu — 906808367.54 worth $22,010. As per the
wallet page, 90% of its inflowing and outgoing cryptocurrency comes
from SHIB. BlueWhale0073 is not the only Ethereum whale investing
in Shiba Inu; other whales have been buying up the meme coin
recently. For example, on April 25th, whale “Bombur” acquired 52
billion SHIB worth $1,178,967. Following Dogecoin, SHIB Also
Increased by 10% The Shiba Inu rose 10.09% on Monday following a
massive surge in Dogecoin. DOGE had skyrocketed after reports that
Twitter had accepted Elon Musk’s bid to buy the social media giant.
The news of Elon Musk’s purchase on Twitter saw Dogecoin spike over
13% in minutes. After these pumps, the billionaire had officially
confirmed it, prompting money to pour into Dogecoin. The price of
Dogecoin has continued to rise in value, with the past 24 hours
showing an increase of around 32%. The coin is currently trading at
$0.164. Dogecoin maintained most of its gains, but SHIB has
already lost a portion of yesterday’s profit. Shiba Inu is
currently trading at $0.00002413. Related Reading | TA:
Ethereum Reclaims $3K, Can The Bulls Clear This Key Hurdle Shiba
Inu Creates New Burn Mechanism To Get Reward The creators of the
SHIB coin have released a burning mechanism that allows token
holders to burn their tokens while earning passive income. If
investors want to burn their SHIB tokens, they can use the Shiba
Inu burning portal. This will send their tokens to a burn address,
where they will be lost forever. This effectively introduces a way
to reduce the total number of tokens in circulation, making them
scarcer and more valuable. Featured image from Pixabay and the
chart from Tradingview
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