Shiba Inu Price rise as whale buys 25 billion SHIB tokens

Shiba Inu the "Dogecoin Killer" is back above Avalanche after an over 37% price rise.

The most popular memecoin in November, Shiba Inu, has added more than 37% to its market value over the past 24 hours, outperforming the rest of the digital assets.

As a result of this surge, the SHIB token has now surpassed Avalanche. It is now close to surpassing its rival Dogecoin once again.

The crypto spiked amid its listing on the Kraken exchange, one of the largest crypto exchanges. The crypto exchange added support for the Shiba Inu token on November 29, settling an almost a month-long wait.

Today, an anonymous Ethereum whale also bought an additional 24.8 billion SHIB tokens that were worth approximately $1 million at the time of the purchase. The whale currently has about $56 million worth of Shiba Inu.

According to reports,tThe whale also holds $26 million in Decentraland ($MANA), the largest metaverse token on the Ethereum network.