A top ETH whale scooped up a whopping 312 billion Shiba Inu tokens worth over $2 billion indicating the growing demand for the popular memetoken among large-scale investors.
Data from a prominent blockchain tracking platform showed that the 254th biggest ETH Whale goes by the name “BlueWhale0073” spent $2.06 million to purchase a whopping 194.11 billion SHIB in the first transaction.
Within minutes, the top ETH Whale carried out the second buy transaction, boosting its portfolio’s value by $1.25 million to 117.88 billion SHIB.
In the two transactions, the whale accumulated a total of 311.99 billion Shiba Inu.
The abrupt accumulation follows the price dip of Shiba Inu which has lost over 11% in just four days. Currently, Shiba Inu is trading at $0.00001059, down 3.6% in 24 hours.
Although Shiba Inu’s price performance has been rather lackluster, with occasional bouts of ups and downs, according to IntoTheBlock’s In/Out of the Money, [IOM] indicator, the token is currently testing a critical support level of 178 trillion tokens,
This support level of 178 trillion SHIB tokens is a crucial indicator of a strong base of holders who have acquired the asset at or around its current price.
Despite the comparatively subdued price performance in comparison to other meme tokens, if this support level holds, it might indicate that investor faith in Shiba Inu is unwavering.
The well-known memecoin also received a security ranking score of above 90, according to an announcement from Certik Audit, the top security-focused ranking platform.
Shiba Inu Latest Ranking Boost Investors’ Confidence
SHIB had a score of 94.30 out of 100 and was ranked 72nd demonstrating the asset’s dependability and security
Recently the 14th-ranked token emerged as the top trending crypto on Turkey’s Google searches in the last 3 months.
According to data from Google Trends, search results from Turkey citizens make up the major chunk of the market share, with a score of 100. A value of 100 on Google Trends data indicates peak popularity for the asset in a particular region.
In related news, Marcie Jastrow, a Shiba Inu metaverse consultant who just spoke at NAB in Las Vegas, shared her experience in a series of tweets.
As reported by TronWeekly, Jastrow highlighted the ability of Shibarium to advance the SHIB metaverse project and stated that it is attracting interest in Hollywood circles.