Shiba Inu Price Prediction as $300 Million Trading Volume Comes In – Are Whales Buying SHIB?
Shiba Inu price is up a colossal 50% from December lows of $0.00000774, although the meme token’s recovery reached January highs of $0.00001292 last week. Investors appear to be shifting their attention to the second-largest meme coin, which has in 24 hours witnessed a spike in trading volume to $300 million.
SHIB’s growth in volume and price has been reflected in its market cap, which stands at $6.8 billion. The meme coin is now the 13th largest crypto after toppling Litecoin (LTC). Shiba Inu has 549 trillion tokens in circulation, but a total supply of 589 billion. Other SHIB tokens have been locked in smart contracts for staking purposes.
Shina Inu has always been a darling among large-volume crypto holders, especially Ethereum whales. According to WhaleStats, Shiba Inu is of the top ten most used smart contracts for the top 1,000 biggest Ethereum whales on Friday.
The story gets juicer, with Shiba Inu appearing among the most used smart contracts for the top 100 Ethereum whales in 24 hours. Alongside SHIB is Numeraire (NMR), Maker (MKR), Decentraland (MANA), and Biconomy (BICO).
In other news, an opulent whale has moved a colossal amount of SHIB tokens, possibly in preparation for the launch of the new protocol, Shibarium. Data released by Whale Alert, a platform monitoring whale transactions in the crypto market, the investor transferred slightly over 3 trillion SHIB, worth approximately $38 million at the time of writing. The transfer originated from an unknown wallet and still ended up in another unknown wallet.
Interestingly, the wallet received roughly the same number of tokens a fortnight ago from an unidentified wallet which at the moment has a zero balance, based on data from Etherscan.
Shiba Inu price is trading
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