Market players are currently dealing with a price crash in the crypto market with the price of BTC having fallen from a level of $47,000 to a level of almost $39,200. According to data from Coinglass, over $429 million in crypto assets have been disbursed from crypto exchanges.
Waima once a group of market players took this opportunity to add to their grip on a crypto asset. So it's not surprising that the group of 'whales' began to make their way in the midst of the turbulence. Market players continue to pay attention to the movement of 'this group' as one of the indications for trading crypto assets. Most crypto assets that have large communities are often a concern, such as Shiba Inu.
In the past year, Shiba Inu has made a mark because it managed to record important episodes that year. Since that level marker SHIB is often recognized as the DOGE killer. But every time, his handlers are getting less and less but he still has a loyal following.
This price drop is seen as a buying opportunity on the price. Based on the data, the ETH 'Whales' group has collected more than 393 Billion SHIB tokens in the past 24 hours. Although this move is not shown in the SHIB price gauge but its 24-hour trading volume has jumped by more than 20%.
SHIB prices have slumped 14% in the past seven days at $0.00002283 and are now starting to do as much as 17% in the past 24 hours, paring previous losses despite investors' concerns about rising inflation and a hawkish Federal Reserve.
Based on WhaleStats, the two Ethereum whales came together in buying up billions of SHIBs. The “Whale” group titled “Light” has purchased approximately $7.56 million worth 331.9 Billion Shiba Inu tokens. On the other hand, the 'Whale' “BomBur” has also added a SHIB worth $1.39 million, or 61.3 billion tokens.
This collection has helped Shiba Inu to enter the list of the top 10 tokens purchased by the 100 largest ETH wallets in the past 24 hours. Data shows that Light holds more than $763 million Shiba Inu tokens. This is probably one of the biggest holdings among any SHIB holder.
The Shiba Inu is still the second largest meme crypto asset in terms of market capitalization. SHIB traders often take the behavior of the 'Whales' as an indication in their trading strategy.
