The large Ethereum (ETH) whale called ‘BlueWhale0113’ has bought up no less than 312 billion Shiba Inu (SHIB). It currently has a value of approximately $3.72 million.
One transaction for over 312 billion Shiba Inu
The blockchain data tracking website, WhaleStats recently reported that the 395th largest ETH whale labeled “BlueWhale0113” has collected a whopping 312,285,225,685 (312.28 billion) SHIB, worth $3,722,439. Remarkably, the purchase was made in just one transaction.
Ready for breakthrough?
The Shiba Inu price chart seems to suggest that the popular altcoin is poised for a breakthrough. It is therefore currently undergoing a phase of consolidation and has traded between $0.00000717 to $0.000013 in recent months.
However, as of July 29 this year, Shiba Inu has been flirting with a critical resistance of $0.000013 on the daily chart. This while trading above 20-EMA, forming the textbook “Ascending Triangle Pattern” on the daily chart. This kind of tight consolidation above 20-EMA following the formation of the “Ascending Triangle Pattern” textbook usually indicates the building of strong buying pressure around the asset.
If Shiba manages to actually break this, which is obviously no guarantee, the price could almost double. However, if the popular altcoin does not break through, its value can also fall sharply. It is not yet known whether the altcoin will make a breakthrough, so do not see this as trading advice.
