Bitcoin Whale Makes $1.3B Move, Shiba Inu Surges; Crypto Market Update - CryptoCrazeNews

Bitcoin Whale Makes $1.3B Move, Shiba Inu Surges; Crypto Market Update

Bitcoin Whale Makes $1.3B Move, Shiba Inu Surges; Crypto Market Update

Bitcoin Whale Makes $1.3B Move, Shiba Inu Surges; Crypto Market Update

As the crypto market moves, crypto whales made major Bitcoin accumulation in the last 24 hours. In a staggering move yesterday, a massive purchase of Bitcoin was made. A single wallet, linked to the address 3M6XpqUc8G8GuHYKQhjAWobo5aGpkdV7u, acquired over 26,200 BTC at a price of $51,000 per Bitcoin. This transaction amounted to an astonishing $1.3 billion, sparking intense speculation about the identity of the buyer.

At the same time, Shiba Inu experienced a surge in activity. The volume of transactions spiked from 2.18 trillion Shib to 11.77 trillion in just one day, marking the highest level in a week. There was also a noticeable upstick in daily active addresses, up 25.33% to 3710, indicating more people engaged with SHIB.

The Bitcoin Whale movements

In recent Bitcoin movements, there’s a noticeable trend among big holders, called whales. These are wallets with over 100 Bitcoins and are not tied to any big exchanges. Instead of selling, these whales are gathering more Bitcoins. 

Over the last month, there haven’t been many sales from these big players. Instead, they’re stocking up. According to expert Ki Young Ju, the “realized price” for these whales is around $40.5K per Bitcoin. Bitcoin (BTC) is currently priced at $50,768.61, experiencing a slight decrease of 0.51% over the past day.

Bitcoin’s future value is reflected in this behavior. Even though prices go up and down in the short term, these whales believe in Bitcoin’s long-term worth. Market bullishness suggests a positive outlook.

Other recent movements

Shiba Inu, a dog-themed digital asset, has been getting a lot of attention lately in the crypto world. Whale activity, which basically means large transactions by big investors, has surged significantly. On February 21, the total amount of Shiba Inu tokens involved in large transactions was 2.18 trillion SHIB. 

However, just a day later, on February 22, this volume skyrocketed to 11.77 trillion SHIB, marking the highest level in the past week, as per reports. Alongside this surge, the number of daily active addresses on the Shiba Inu blockchain also rose by 25.33%, reaching 3,710 addresses. Suggesting heightened activity within the Shiba Inu community.

In the market, high transaction volumes indicate significant activity. A surge in these volumes may signal substantial buying or selling actions by influential investors, whales. 

Despite the increased activity, Shiba Inu bulls, or those who believe in its price increase, faced challenges in pushing the token’s value above $0.00001. The price attempted to reach highs of $0.00000996 on February 20 but faced rejection. Since then, the price has been steadily declining, at the time of writing SHIB is trading at $0.000009435, reflecting a minor increase of 0.56% over the past day.

Leave a Reply

Your email address will not be published. Required fields are marked *