This Crypto Whale Nyerok Shiba Inu (SHIB) Is Worth IDR 2.3 Trillion

Dogecoin's competitor meme coin, Shiba Inu (SHIB) is bought up by whales. (Photo; Doc. TheNewsCrypto)

JAKARTA - In recent days, the Shiba Inu (SHIB) meme coin has attracted the attention of large investors or known as "whole." Based on data from the IntoTheBlock crypto analytic platform, large transactions by whales reached 73.72% in a 24-hour period. A total of 327 major transactions were recorded in this period.

For 24 hours, one of the Shiba Inu whales managed to accumulate a total of 5.58 trillion SHIB. This volume is equivalent to 145.48 million US dollars (Rp2.327 trillion). This makes Shiba Inu one of the most widely traded tokens by whales in the past week.

Transactions categorized as large transactions are worth at least US$100,000 (Rp1.6 billion), which shows the increasing attractiveness of SHIB. With more than 5.5 trillion tokens collected, a shortage of supplies introduced into the ecosystem may help maintain the bullish rally that has been seen in recent days.

However, the entire Shiba Inu protocol also faces several challenges. As reported by U.Today, after surging to 10% in one day and surpassing the 50-day EMA, the price of SHIB failed to continue the rally. Many data show concern about the continuation of this price increase.

As the article was written, the price of the Shiba Inu was at $0.00002612 (Rp.0.000441792), up by 2.72% in the last 24 hours. The Shiba Inu is trying hard to rise above the current price range and may go to a high price of 0.00007 US dollars (Rp1.12). This effort is supported by an intense deflation boost through token burning rates and aggressive transaction growth in the Shibarium.

Shiba Inu tokens appear to be following a slower pace of market growth to plan its growth path. Nonetheless, there is hope that this token will print a breakout in the long term.

According to a report from CoinDesk and Forbes, the increased interest in Shiba Inu is also driven by the development of its ecosystem, including increased liquidity and wider adoption on various crypto trading platforms. In addition, the launch of the Shibarium, a layer-2 platform designed to increase the scalability and efficiency of SHIB transactions, is expected to drive further growth.