- The third-largest whale on the Ethereum blockchain dubbed “Tsunade” has purchased 86 billion Shiba Inu tokens even after the anemic performance of the meme currency.
- Currently, the wallet address holds around $3.5 billion in different cryptocurrencies. Interestingly, even after such a big purchase, Shiba Inu is not the biggest holding on the address.
- While the market performance of Shiba Inu also not doing great as the momentum of the memetoken slowed down after reaching the $0.000027 mark despite the large purchases of the token.
“Tsunade,” is the third-largest whale on the Ethereum blockchain. It has recently bought 86 billion Shiba Inu tokens even though the meme token has performed poorly recently. The transaction is valued at $2.3 million.
As of now, the wallet holds around $3.5 billion in different digital assets. It made the large purchase even though SHIB was seen having difficulty pushing the March 2 resistance. The purchase didn’t seem to help the price of SHIB.
Shiba Inu is not the biggest holding on the address despite such a big purchase of tokens. “American Born Doge” token is the biggest holding on the wallet.
As of now, the address holds $1.8 billion worth of USDOGE. PAXG token that directs investors to Gold through crypto assets, holds second place.
Currently, the whale holds around two trillion SHIB worth approximately $47 million.
How Is Shiba Inu Performing In The Market?
The price momentum of Shiba Inu de-accelerated after touching $0.000027 even after a series of large purchases was made by whales in the last month.
The token reached $0.000029, the highest point in the month of March. This is considered a strong psychological resistance since at the beginning of the month the token already couldn’t breakthrough.
In terms of technical indicators, moving averages on Shiba Inu almost reached a “death cross”, which is basically a crossing out of the 50- and 200-day moving average when the “longer” MA falls above the “shorter” one.
The crossing out did not occur as SHIB increased around 30% in March, leading to the division of moving averages, all because of the relaxation in the cryptocurrency market. This situation leaves the token in the global trend.
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The post Third Largest Whale On Ethereum Purchases 86 Billion SHIB Despite Memetoken’s Poor Performance appeared first on The Coin Republic: Cryptocurrency , Bitcoin, Ethereum & Blockchain News.
Source: https://www.thecoinrepublic.com/2022/04/04/third-largest-whale-on-ethereum-purchases-86-billion-shib-despite-memetokens-poor-performance/