Home Finance SHIB trading volume increases by 102% and whales buy 323 billion coins...

SHIB trading volume increases by 102% and whales buy 323 billion coins in 24 hours

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This week, whales transferred massive amounts of Shiba Inu, moving crypto memes between wallets, selling and buying SHIB.

Of those SHIB moves, the 100 largest whales on the Ethereum blockchain moved about $2 million worth of SHIB in two days, just before the weekend began. Now, those coins (and a bit more) are back in their wallets, acquired simply in the last 24 hours, according to data platform WhaleStats.

These fund movements are the result of SHIB’s increased trading volume. Over the past 24 hours, the increase has held at just 102%.

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Image via CoinMarketCap

Whales buy back 324 billion SHIB

According to data provided by WhaleStats, Ethereum whales now hold $69,169,207 in SHIB. As of Friday their SHIB holdings stood at $66,326,515.

So, they have purchased the equivalent of 3 million SHIB, or a total of 323,974,082,073 meme coins. SHIB now represents 3.49% of their crypto-currency holdings.

However, compared to September and October, when the top 100 whales held more than $100 million in SHIB, they now hold less than $70 million.

Image via WhaleStats

SHIB rises 12.35% this week

Over the past week Shiba Inu has seen an overall increase of 12.35%. 12.35% up to today… The price went from $0.00000830 to $0.00000933 today.

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However, at this time the price has dropped slightly and the coin is trading at $0.00000925.

Unlike SHIB, its rival meme token DOGE has jumped more than 15% in the last 24 hours. The likely reason is that Twitter boss Elon Musk said in one of his posts that if the Twitter app had problems with the stores for Android and iOS apps, he would launch an alternative smartphone, with a new operating system, obviously.