SHIB has gained a lot of attention and popularity in the crypto space, especially after some influential figures such as Elon Musk and Vitalik Buterin tweeted about it. SHIB also has a loyal and active community of supporters, who call themselves the “Shib Army”. The coin has a total supply of 1 quadrillion tokens, half of which were sent to Buterin’s wallet as a gesture of trust.
One positive development was the listing of SHIB on Coinbase, the largest U.S.-based crypto exchange, which boosted the coin’s liquidity and exposure. Another was the launch of ShibaSwap, a decentralized exchange (DEX) that allows users to swap, stake, and farm SHIB and other related tokens. ShibaSwap also introduced two new tokens: LEASH and BONE, which have different utilities and rewards within the ecosystem.
The most recent news that sparked a surge in SHIB’s price was the massive purchase of 1.5 trillion SHIB tokens (worth about $10 million) by a major holder, “0x40B3,” who is believed to be an institutional investor. This purchase increased the demand and scarcity of SHIB, as well as the confidence and optimism of the Shib Army.
— Lookonchain (@lookonchain) June 13, 2023
The User Has Made Other Purchases
It is noteworthy that “0x40B3” is not a newcomer to buying massive amounts of SHIB tokens. The address had previously amassed a jaw-dropping 5.3 trillion SHIB tokens, worth a stunning $35.5 million. Another remarkable transaction took place on May 16, when “0x40B3” moved a colossal 20 trillion SHIB tokens, valued at a whopping $134.4 million, to another address, “0x73AF.”
The crypto community is fascinated by this whale, which holds the most Shiba Inu tokens among non-exchange wallets. The whale’s recent purchase of 1.5 trillion SHIB tokens had a significant impact on the market. The SHIB price soared by more than 1.5% in just 15 minutes after the transaction. In addition, the SHIB price has recovered remarkably from its recent low last Saturday, rising by 24.4%.
The fate of the Shiba Inu coin is unclear, as only time will tell what will happen. However, some important events are coming up soon that could affect the financial markets, especially the crypto sector. These events are closely monitored by traders and investors, who are curious about their results and how they will influence the crypto scene.