While SHIB saw a slight price increase yesterday, the Shiba Inu community saw the emergence of a new large SHIB holder. The investor added $176,800,000 worth of Shiba Inu tokens, Etherscan data shows.
On-chain data revealed that the whale accumulation happened in four consecutive equal transactions of 5 trillion SHIB tokens each.
SHIB Records 5th Major Investment
The newly emerged whale scooped 20 trillion SHIB tokens worth $176.80 million approximately 14 hours ago. According to data on Etherscan, the transfer has made the SHIB investor the fifth biggest holder.
Related Reading: Dogecoin, Shiba Inu Whales Move Massive Amounts, Dumping Going On?
Another remarkable thing about the transactions is that they occurred almost simultaneously. This new SHIB investor’s portfolio makes up 2{ee212069bfc2680724ddd6b0d505d051cd6a6be760d8da0a6a57844f2abae5c8} of the Shiba Inu supply.
Whale accumulates 20 billion SHIB | Source: Etherscan
The accumulation by the whale has not had any significant positive impact on the price of the digital asset though. The meme coin rose 1.17{ee212069bfc2680724ddd6b0d505d051cd6a6be760d8da0a6a57844f2abae5c8} in the last day but is still seeing a 0.56{ee212069bfc2680724ddd6b0d505d051cd6a6be760d8da0a6a57844f2abae5c8} decline on the 7-day chart.
Even though SHIB’s price started gaining slightly from May 14, closing at $0.00000883 against its opening price of $0.00000878, it reversed by May 16, closing at $0.00000880 against its opening price of $0.00000884.
Upcoming Advancements In Shiba Inu Ecosystem
A Shiba Inu marketing team member, Lucie Sasnikova, recently shared updates about the SHIB metaverse project. In her tweet, Lucie noted that the developer behind SHIB: The Metaverse project would reveal the previews of the hub by September. Notably, four new hubs will be unveiled, namely; Wagmi, Rocket Pond, Royshi, and Tech Trench.
SHIB metaverse advisor, Marci Jastrow, also answered questions regarding the project, noting that users can access the metaverse via PC, mobile phone, and Virtual Reality (VR).
Another interesting development is that the Web3 shopping platform, UQUID, recently integrated the Shiba Inu payment options into its services.
This integration will add real-world utilities to Shiba Inu, allowing SHIB holders to use their coins for several purposes, including airtime top-up, online shopping, and more.
The Shiba Inu team is also collaborating with Tangem, a blockchain tech firm, to roll out cold wallets exclusive to the Shiba Inu community.
According to reports, users can visit Tangem’s official website to preview the wallet’s features and pre-order the SHIB-themed wallet pending completion. Lucie also highlighted the wallet features in a tweet, noting that it supports over 6,000 currencies.
The SHIB marketing executive said the wallet would allow users seamless access to DeFi, NFTs, and decentralized exchange platforms. Additionally, the hardware wallet is wireless, portable, and does not require batteries.
The token has lost most of its gains over the past weeks, despite recording a slight price boost yesterday. At press time, SHIB has declined by 2.4{ee212069bfc2680724ddd6b0d505d051cd6a6be760d8da0a6a57844f2abae5c8} over the past seven days and 13.2{ee212069bfc2680724ddd6b0d505d051cd6a6be760d8da0a6a57844f2abae5c8} in the last 14 days.
Featured image from Pexels, chart from TradingView