Iconic Fashion Figure John Richmond Fuels Shiba Inu (SHIB) Frenzy

In a motivational post on his Twitter account, the celebrated British fashion designer, John Richmond, ignited excitement about the beloved meme-coin Shiba Inu (SHIB). Richmond praised the force behind Shiba Inu, emphasizing how it can infuse limitless vigor into one’s week and fuel the realization of dreams, contributing to a world brimming with optimism.

Bearish Trends Shadow Shiba’s Value

Despite Richmond’s endorsement, the value of Shiba Inu experienced bearish trends. The crypto token commenced Friday trading at $0.00000802 but encountered a significant drop, plummeting to $0.00000591 by Saturday. Sunday witnessed a slight resurgence, with the value reaching $0.00000674. 

As of the time of writing, the meme-based crypto token lingered at $0.00000676.

Stakeholders Demonstrate Faith

Notwithstanding the token’s bearish trend, several prominent crypto stakeholders exhibited their faith in Shiba Inu. On Tuesday, the crypto community noticed a notable increase in SHIB acquisitions by the largest holders of the meme token, often referred to as “whales.”

Also Read: XRP, ADA, DOGE, SHIB & 2 More Altcoins Poised To Surge High In Coming Days – Santiment Reports

Major Whale Makes Massive SHIB Acquisitions

One such whale, identified as “0x2eFB,” made a substantial addition to its existing SHIB holdings, securing an additional 1.5 trillion SHIB tokens from leading crypto exchanges, Binance and Coinbase.

Whale Alert, a blockchain tracker and analytics system, confirmed this significant acquisition on June 13. It reported that “0x2eFB” received a staggering 1,047,480,969,141 SHIB, equivalent to $6.97 million, from Jump Trading.

Additional SHIB Acquisitions by “0x2eFB” and “0x66E0”

Subsequently, the same whale received an additional 483.9 billion SHIB, valued at $3.25 million, from a different wallet address, “0x66E0.” Despite these colossal acquisitions, “0x2eFB” still retains a staggering 5.75 trillion SHIB.

Interestingly, subsequent data reveals that “0x2eFB” did not merely hoard the SHIB. After just a few hours, it transferred a substantial chunk of 1.5 trillion SHIB, amounting to $10.09 million, to another wallet address, “0x73AF.” Currently, “0x73AF” holds 5.28 trillion SHIB.

Leading Shiba Holder Makes Moves

In another noteworthy development, “0x40B3,” the most prominent Shiba Inu holder, secured 1.5 trillion SHIB ($10 million) from Binance and Coinbase. This massive acquisition follows a colossal transfer of 20 trillion SHIB from “0x73AF” to “0x40B3” in mid-May.