One of the largest holders of Shiba Inu (SHIB) in existence just switched back into accumulation mode.
About ten days ago, as Bitcoin and the crypto markets began a significant pullback, the whale let go of 70,000,000,000 SHIB worth $956,200.
Now, the crypto giant appears ready to dive back into the market.
About 24 hours ago, the whale added 50,000,000,000 SHIB worth $683,500 to the wallet. Since that move, SHIB has rallied 8.1% to its current price of $0.00001367.
At the time of publishing, the whale holds a staggering 13,738,398,731,474 SHIB worth about $187,600,000.
According to the crypto whale aggregator WhaleStats, Shiba Inu is now the third-largest altcoin holding among Ethereum whales, behind USD Coin (USDC) and Tether (USDT).
SHIB has soared in 2023, driven in part by plans to launch Shibarium, which is a layer-2 network designed to make SHIB transactions more efficient and allow users to create custom tokens, similar to Polygon (MATIC).
SHIB began the year at $.00000814 and at its current price of $0.00001367, the altcoin is up 67%.
Despite the big rally, SHIB remains 84% below its all-time high of $0.00008616, which the coin hit on October 28, 2021.
This article is not financial advice to anyone. Always DO YOUR OWN RESEARCH before investing in the market. The presented content may include the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.