Whales Amass Over 1T Shiba Inu Worth $9M, SHIB Enters Top Gainers

  • Whales accumulated $9 million in just eight weeks.
  • Shiba Inu is now in fourteenth place among major crypto assets.
  • Shibburn’s insights reveal an impressive 240.91% surge in SHIB token burns.

In a surprising turn of events, Shiba Inu emerged as the unexpected victor during an otherwise lackluster trading week, according to market intelligence platform, Santiment, known for analyzing on-chain metrics of over 2,500 cryptos.

According to the report, wallets of influential players dubbed crypto sharks and dolphins, which held between 10 million to 100 billion Shiba Inu tokens, amassed a staggering $9 million in just under eight weeks.

Santiment further bolstered its claims with visual evidence, sharing a chart that depicted notable price jumps of SHIB, influenced by transaction surges orchestrated by big crypto whale wallets. The report revealed that over the past eight weeks, an astounding 1.11 trillion Shiba Inu coins had been added to wallets harboring 10 million to 100 billion SHIB tokens.

This substantial sum is a significant milestone for Shiba Inu, placing it at 14 among the most significant crypto assets, up from 19 early this month. Interestingly, data from CoinMarketCap shows Shiba Inu is now among the top gainers in the last 24 hours.

Shiba Inu on top gainers: CoinMarketCap

On the other hand, Shibburn, a renowned Shiba Inu burn tracker, tweeted some intriguing insights into the state of the SHIB token. According to its automated calculations, a whopping 95,122,875 Shiba Inu tokens have been burnt in the past 24 hours.

This figure represents a remarkable surge of 240.91% compared to previous periods. Simultaneously, the market cap of Shiba Inu has experienced a notable increase, reaching an impressive $4,8 billion.

However, over the past seven days, there has been a reduction in token burns, with 285,060,273 SHIB tokens burned, marking a decrease of 64.76%.

Notably, the Shibburn update reveals that the price of SHIB stands at $0.00000818, indicating a positive surge of 4.89%  over the last 24 hours.

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