Cryptokits accumulated $ 100 million in SHIB cryptocurrency in just a week

According to the popular analytical platform IntoTheBlock, over the past seven days, large holders of the Shiba Inu memo token have accumulated digital assets worth more than $ 100 million.

According to Whale Alert, a blockchain monitoring and analysis system, on August 31, the crypto asset transferred 4,642,530,677,374 SHIB, equivalent to $ 38,057,145, from one anonymous wallet to another. Two days later, on September 2, another whale transferred 4,630,530,677,374 SHIB, equivalent to $ 36,696,955, from the Bitvavo crypto exchange to an unknown wallet.

on September 4, Whale Alert reported another significant transaction involving the meme coin. This time, the whale transferred 4,615,530,677,374 SHIB, equivalent to $ 35,694,206, from Bitvavo to another unknown wallet. The investor has increased the value of SHIB token transactions made by major cryptocurrency holders to over $ 100 million.

The recent increase in SHIB whale activity has coincided with a significant influx of new crypto users into the Shiba Inu ecosystem. Data from the Shibarium explorer shows that the number of active wallets in the newly created network has crossed the one million mark. In the short time of its existence, the network has conducted more than a million transactions, creating almost 472,000 blocks.

Most crypto users believe that the actions of the major SHIB holders indicate preparations for the upcoming bull rally. However, some users suggest that the actions of the crypto kits could hurt the development of the meme coin if they sell it off during the growth of the SHIB rate.

At the time of writing, SHIB has a market capitalization of $ 4.51 billion, up 2% per day. The daily trading volume amounted to $ 99.64 million.