Top Whale Purchases 356 Billion Shiba Inu As SHIB Enters Historical “Demand Zone”

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Shiba Inu

According to WhaleStats, the Ethereum Whale “BlueWhale0073” purchased 356.07 billion Shiba Inu (SHIB) tokens in a single transaction.

Top ETH Whales are again taking advantage of lower pricing as Shiba Inu reaches the historical “Demand Zone,” which ranges from $0.00000511 to $0.000000951.

According to the crypto whale tracker WhaleStats, top Ethereum whale BlueWhale0073 has just loaded up on 356.07 billion Shiba Inu coins worth $3 million.

According to WhaleStats, in one single transaction, the Ethereum whale “BlueWhale0073,” the 690th largest of the 1,000 ETH wallets tracked, scooped up a total of 356,078,908,730 SHIB tokens worth $3,001,745.

Read also: Community Burned 1.04 Billion Shiba Inu in 7 Days as SHIB Slumps 25% 

SHIB Price Movement

Shiba Inu breaks below the critical support zone (initial resistance) on the daily chart on June 11th (Saturday). Following the breakout, Shiba Inu prints a new lower low at $0.00000743, bringing it into the historical “Demand Zone” ($0.00000511 – $0.000000951) for the first time since October 2021.

Previously, the price of Shiba Inu has consolidated inside the zone as mentioned above for nearly five months, from May to October 2021. Later, on October 4, 2021, the price of the popular dog-themed cryptocurrency broke out of this range, causing Shiba Inu’s price to rise and hit an all-time high (ATH) price of $0.00008845 on October 28, 2021.

At the time of writing, the 17th largest cryptocurrency in the world by market capitalization had lost -90.88 percent of its gains from late October 2021.

Related article: Shiba Inu Gains More Than 80% Support Against Dogecoin In A Twitter Survey 

This comes after the global crypto market’s massive selloff escalated on June 13th (Monday). For the first time since November 2021, when it peaked at $3 trillion, the global crypto market fell below $1 trillion.

However, as of press time, SHIBA INU’s price movement has met with strong purchasing activity near recent lows of $0.00000743, where solid support from the daily chart maintains the uptrend intact, with a 24-hour trading volume of $687,356,152 ($687.35M). SHIB is currently trading at $0.000008413, up more than 3% from the previous day.