A top SHIB whale added $1.18 million worth of Shiba Inu within 24 hours. Data from Etherscan.io reveals that this whale ranked as the nineteenth largest SHIB holder accumulating 140 Billion SHIB.
The whale acquired the SHIB tokens in two separate transactions marking its second massive accumulation within 72 hours.
SHIB Token Burns And Shibarium Launch Likely Behind Accumulation
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Shiba Inu network and users engaged in massive SHIB burn events in 2023. The burning mechanism aims to reduce excess tokens and boost SHIB’s price. However, no notable price increase has occurred since the token burn events.
Nevertheless, the top SHIB whales are accumulating the tokens ahead of the Shibarium launch and a possible price increase for the asset.
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