Shiba Inu aka SHIB continued to attract tremendous network activity despite the price tumbling to 13% in the past four days. According to data provided by Whalestats that monitor activity for the 1000 biggest Ethereum [ETH] wallets addresses, an ETH large-cap investor purchased 50 billion SHIB tokens, nearly $1.8 million worth of the popular meme coin amid sharp price correction during the panic sell-offs in the crypto market.
That being said, the total holdings in the Jiraiya portfolio now account for about 1.6 trillion SHIB coins, valued at a whopping $59.6 million. The latest news comes after another large-volume investor scooped up close to a massive 100 billion tokens worth around $3.5 million, on the Binance Smart Chain, last Tuesday.
As a matter of fact, the asset enjoys massive support from high-worth investors. According to data on CoinMarketCap, its biggest whale holds over 410 trillion of the token, which is 41% of its total supply. In addition to that, recent moves by SHIB whales have impacted the price of the cryptocurrency to swing up and down because of their huge influence.
Earlier in November, the meme coin plummeted to a low of 21% after a big holder moved $2.3 billion worth out of the wallets, which triggered a panic reaction across the crypto market. A month earlier, Shiba Inu’s price climbed by 22% to hit a new peak, after another whale bought 276.6 billion coins, worth nearly $11.5 million. At press time, the asset is trading at $0.00003389 and has fallen by 3.87% in the past 24 hours.
Shiba Inu comes to Bitpay
After its listing across several exchanges another US-based digital firm, BitPay announced that its platform has accepted payments in Shiba Inu (SHIB), while consumers have the option to choose to either buy, store, or swap the digital currency in its inbuilt wallet app. Speaking on the same, Stephen Pair, CEO at BitPay noted,
“The Shiba Inu community is passionate about its coin and serious about giving those consumers places to spend SHIB. BitPay believes that more community involvement from coin holders supports awareness and adoption helping to move the blockchain industry to pave the way for blockchain payments to disrupt the way consumers and businesses receive and spend funds.”