Following a big spike in the frequency of large transactions and good price movement, anonymous whales purchased billions of Shiba Inu tokens during its 30% run in March, according to WhaleStats.
To carry out such a massive buy, the Ethereum blockchain’s largest wallets had to split their purchases into many transactions. The first whale, who bought 420 billion SHIB, made two big purchases. Three hours before the second transaction, which was valued $7.3 million, the first one was for $4 million.
The second whale, who bought a smaller number of Shiba Inu tokens, made a single $1.3 million transaction. The whale was able to complete a trade without dividing his orders, indicating that the market was sufficiently liquid.
It’s unclear which exchange they used for the trade, or whether whales used over-the-counter (OTC) trading platforms.
The combined value of the funds held by both Shiba Inu wallets is about $40 million, or 1.3 trillion SHIB tokens.
Performance of Shiba Inu on the Market
The last few days of March were extremely encouraging for all Shiba Inu owners, as the token began to gain value and social attention at a rapid pace. Shiba Inu has gained nearly 25% to its worth at press time since bottoming out in March, and 38 percent at the local top.
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