Whales buy 643 billion Shiba Inu tokens over the weekend

Major crypto whales bought 643 billion Shiba Inu tokens this weekend. Does this mean that the SHIB price will rise soon?

Whales buy large quantities of SHIB

The wallet checker called WhaleStats recently shared that the big whales bought $8 million worth of SHIB over the weekend. This happened a few days after CNBC analyst Jim Cramer warned investors not to buy cryptocurrencies. In particular, he warned against buying SHIB and DOGE.

According to a recent tweet from WhaleStats, SHIB stock of whales increased $8,000,000 this weekend. This amount of money is equivalent to 643,086,816,720 SHIB tokens.

At the end of last week, the top 500 wallets held just over $147 million SHIB. Now they own $155.3 million in Shiba Inu coins. On Friday and Saturday, anonymous wallets also bought massive amounts of SHIB. A mysterious whale bought 114.9 million SHIB and then sent it to Binance. In addition, three other major SHIB transactions were made by different whales.

‘Don’t buy Shiba Inu and Dogecoin’

Jim Cramer, host of the Mad Money show on the CNBC, said last week that investors should not put their money in risky assets. He also indicated that they should avoid crypto altogether, especially memecoins like Dogecoin and SHIB.

He said the US central bank is sticking to its aggressive stance and will continue with a strict monetary policy. That is bad news for cryptocurrencies.

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He reminded the CNBC audience that Powell recommended that we stop spending our money stupidly. In addition, Powell said taming inflation could wreak havoc on US businesses and households.

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