Price Shiba Inu Soars, Whales Take Trillions of SHIB Tokens

Bittime - The price of the Shiba Inu (SHIB) token soared beyond $0.000026 (around Rp. 0.42) in today's trading. This increase occurred after SHIB recorded a daily record high of $0.00002627 (around IDR 0.42), up 7% from yesterday's low of $0.00002453 (around IDR 0.39).

However, this increase did not last long. Currently, the price of SHIB has fallen back to $0.00002551 (around Rp. 0.41). This surge in SHIB prices appears to be influenced by broader optimism in the cryptocurrency market.

This optimism is driven by the rise of Bitcoin which has once again penetrated the $70,000 range (around Rp. 1,120,000). Bitcoin is currently still holding above $70,000 despite downward pressure which took it to a high of $71,735 (around Rp. 1,148,000) today.

Big Investors "Hunting" Shiba Inu

Interestingly, the increase in SHIB prices was accompanied by massive accumulation activity by big investors (whales) in the last few days. The Lookonchain crypto monitoring account reported that nine wallets, including two whales, had poured out funds amounting to $35.2 million (around IDR 563.2 billion) to buy 1.35 trillion SHIB tokens.

The Lookonchain report also revealed that four of those investors used some of their Ethereum holdings to purchase SHIB tokens.

The purchase price varies, with some investors entering at the lowest price of $0.00002557 (around IDR 0.41) while others enter at the peak price of $0.00002620 (around IDR 0.42). However, their average purchase price is around $0.00002596 (approximately Rp. 0.42).

With the current SHIB price at $0.00002551, these new investors can be said to be at a loss. However, it is likely that they will survive due to the high public trust in SHIB's significant profit potential.

For example, a smart investor who entered the Shiba Inu market on March 1, just as the asset was starting a bullish rally, managed to take SHIB to a three-year high of $0.000045 (around Rp. 0.72). This investor then released his SHIB holdings at the end of the month and made a profit of $8.24 million (around IDR 131.84 billion).

Shiba Inu Whale

Previously, Lookonchain also reported the activities of the Shiba Inu whale which is famous for its large investments. On June 5, this whale was known to have poured out $18.44 million (around Rp. 295.04 billion) to buy 715.9 billion SHIB tokens.

The whale is said to have spent around $400,000 (around Rp. 6.4 million) to collect 5.5 trillion SHIB in the initial stage. Then, at two price peaks, this whale managed to sell its holdings for a profit of around $121 million (around Rp. 1,936 billion).

How to Buy Crypto on Bittime

You can buy and sell crypto assets in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.

To be able to buy crypto assets at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.

Learn More about the How to Buy Crypto Guide on Bittime.

Monitor graphic movement Bitcoin (BTC) price, Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.