- Shiba Inu (SHIB) investments have recently caught the attention of a savvy whale who executed a significant purchase from Binance.
- As Bitcoin and other cryptocurrencies have been experiencing a pullback, some large investors, or ‘whales,’ are seizing the opportunity to make substantial acquisitions to secure profits.
- A recent Twitter post by on-chain data and analytics account Lookonchain highlighted the whale’s new transaction.
A prominent crypto whale makes a substantial Shiba Inu (SHIB) purchase from Binance, driving market speculation.
Whale Increases Shiba Inu Holdings Amid Market Dip
On June 21, Lookonchain tweeted about a whale that made a sizable purchase involving Shiba Inu (SHIB). The whale withdrew approximately $6.6 million worth of 353.83 billion SHIB coins from Binance, significantly boosting their SHIB holdings.
Current Portfolio and Market Implications
Following this transaction, the whale now holds around $15.5 million worth of 838.87 billion SHIB in their wallet. This substantial investment suggests the whale’s confidence in a potential price increase for Shiba Inu, as indicated by their current profit of $6.12 million. According to data from CoinGecko, SHIB is currently trading at $0.00001778.
Conclusion
This strategic move by a notable investor underscores the ongoing activities within the crypto market, highlighting how major players take advantage of price dips to bolster their portfolios. Investors and market watchers will be keen to see if this whale’s confidence in Shiba Inu will pay off in the coming weeks and months, potentially driving the token’s value higher.
