Ethereum Whale Acquires 312 Billion Shiba Inu, Now Holds 516 Billion SHIB

Shiba Inu

Shiba Inu is currently on a resistance level at $0.000013 on the daily chart, thereby gaining the attention of an Ethereum Whale who purchased 312 billion SHIB tokens.

According to WhaleStats, the blockchain data tracking website, “BlueWhale 0113”, the 365th biggest ETH Whale, accumulated 312,285,225,685 (312,28B) SHIB, worth $3,722,439 ($3.72M) in one significant transaction. stated that “BlueWhale0113” added 31,995,229,562 (31.99B) SHIB, worth $387,782 in 7 separate transactions, on August 5th. So far, the top ETH Whale now holds a total of 516,292,072,280 (516.29B) SHIB, worth $6,128,386 ($6.12M) in her wallet.

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Ethereum Whale Transaction

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Shiba Inu Hints a Price Increase of Almost 100%:

The price chart for Shiba Inu shows that SHIB is ready for a breakout and may deliver exceptional performance in the coming future. Shiba Inu is undergoing a consolidation phase and has been trading in a range of $0.00000717 to $0.000013 for the past three months.

Since July 29th, Shiba Inu has been flirting with a critical resistance at $0.000013 on the daily chart while trading above 20-EMA, forming the textbook “Ascending Triangle Pattern” on the daily chart.

Trading View

This type of tight consolidation above 20-EMA following the formation of the textbook “Ascending Triangle Pattern” usually indicates the building of solid buying pressure around the asset.

If Shiba Inu successfully breaks the aforementioned critical resistance level, the price might increase almost 100% to reach the next resistance level at $0.00002180. 

On the flip side, if Shiba Inu breaks below the $0.00000717 mark bullish thesis would nullify. The current support levels to watch are $0.00000983 and $0.00000717 on the daily chart.

Read more: Shiba Inu: BONE Hits $1 From $0.50 in 30 Days.