SHIB Whales Accumulate Over $100 Million in Tokens

According to a known market intelligence platform called IntoTheBlock it has been reported that in the past week, large holders of SHIB tokens have accumulated more than $100 million worth of tokens.

This sudden increase in SHIB whale activity has garnered attention and speculation within the cryptocurrency community.

Data shared by IntoTheBlock reveals that there have been spikes in Shib’s netflow since the week of August 2023. This indicates an influx of SHIB tokens into the wallets of SHIB holders.

Whale Alert, a blockchain tracker and analysis system, has recorded transactions involving SHIB whales. On August 31, 2023, an astonishing amount of 4,642,530,677,374 SHIB tokens (totaling $38,057,145) was transferred by a SHIB whale from one wallet to another.

Two days later, on September 2nd, another whale moved 4,630,530,677,374 SHIB tokens worth $36.696.955 from the Bitvavo crypto exchange to an undisclosed wallet.

This trend continued on September 4th, when Whale Alert reported another transaction related to the popular meme coin. SHIB.

In this instance, a whale transferred 4.615530677 trillion SHIB tokens valued at $35.694206 from Bitvavo to another wallet location. Collectively, all these transactions have raised the value of Whale’s holdings in the SHIb token by over $100 million.

The surge in activities among these large-scale holders coincided with an increase, in participants joining the Shiba Inu ecosystem.

According to the Shibarium explorers’ data, it has been observed that the total count of wallets on this newly formed network has exceeded one million.

Since its inception, the network has successfully processed over a million transactions and generated 472,000 blocks. Maintained an average block time.