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The Whale Who Bought 20 Trillion Shiba Inus Ranks As The Fifth Biggest Shiba Inu Holder

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SHIB experienced a slight price increase, and simultaneously, a new significant SHIB holder emerged within the Shiba Inu community. 

According to Etherscan data, this investor added a substantial amount of Shiba Inu tokens, totaling $176,800,000. The whale’s accumulation occurred through four consecutive transactions, each comprising an equal amount of 5 trillion SHIB tokens.

Whale Acquires $176.80M Worth of SHIB Tokens, Becomes Fifth Largest Holder

A newly emerged whale acquired significant SHIB tokens totaling 20 trillion, valued at approximately $176.80 million. This acquisition has propelled the SHIB investor to become the fifth largest holder of the token, as per data on Etherscan. It is noteworthy that these transactions occurred almost simultaneously.

The whale’s portfolio now accounts for 2% of the Shiba Inu supply. However, despite this substantial accumulation, the price of SHIB has yet to experience a significant positive impact. While the meme coin recorded a modest increase of 1.17% on the last day, it still exhibited a decline of 0.56% on the 7-day chart.

Although SHIB’s price exhibited slight gains from May 14, with a closing price of $0.00000883 compared to its opening price of $0.00000878, it reversed this trend by May 16. On May 16, the closing price of SHIB was $0.00000880, slightly lower than the opening price of $0.00000884.

SHIB Metaverse Project and Shiba Inu Integration

Lucie Sasnikova, a Shiba Inu marketing team member, recently shared updates on the SHIB metaverse project. According to Lucie’s tweet, the developer of SHIB: The Metaverse project will reveal previews of the hub by September. They will unveil four new hubs: Wagmi, Rocket Pond, Royshi, and Tech Trench.

UQUID, the Web3 shopping platform, integrated Shiba Inu payment options into its services. This integration adds real-world utilities to Shiba Inu, enabling SHIB holders to use their coins for airtime top-ups, online shopping, and more.

The Shiba Inu team is collaborating with Tangem, a blockchain tech firm, to release cold wallets exclusively for the Shiba Inu community. Users can visit Tangem’s official website to preview the wallet’s features and pre-order the SHIB-themed wallet, which supports over 6,000 currencies.

The marketing executive of SHIB stated the wallet enables users to access DeFi, NFTs, and decentralized exchange platforms conveniently. The hardware wallet is also wireless, portable, and operates without requiring batteries. Despite experiencing a slight price boost yesterday, the token has suffered a substantial decline in its previous gains. 

At the time of writing, Shiba Inu (SHIB) is trading at $0.00000877, accompanied by a 24-hour trading volume of $113,342,528. Over the past 24 hours, the price has shown a positive movement, reflecting a 0.96% increase. However, in the last 7 days, SHIB has experienced a decline of -1.24%. SHIB has dropped by 2.4% in the past seven days and 13.2% in the last 14 days.

With a circulating supply of 590 Trillion SHIB, the current market capitalization of Shiba Inu amounts to $5,168,717,541.

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