Shiba Inu buys more than 6 trillion SHIB coins over 2 days; starts uptrend

New Delhi: Shiba Inu has emerged as one of the top traded coins by volume. SHIB has made it to the top 20 coins by the market value. Self-claimed DOGE killer, Shiba Inu made a massive comeback with a whooping increase in the price.

Shiba Inu has a market capitalization of $9.3 billion and experts are comparing SHIB’s current rally with the Dogecoin’s price rise in April 2018.  As per analysts, SHIB has jumped around 187% since October 1. SHIB is finally giving back to its holders as it nearly tripled its value over the last week.

As per reports, an anonymous whale decided to buy almost 6.3 trillion SHIB in over 2 days. The so-called SHIB whale began to buy coins on October 1 and bought gigantic 6 trillion SHIB coins which worth around $43,838,900 (around Rs. 3,27,81,19,505). SHIB whale went ahead to buy another 116 billion coins the other day which were followed by two more transactions of 159 billion coins and another 1 billion coins.

SHIB whale purchased 276 billion on October 2, says a report.

This is not the first time that a whale has changed fortunes for the memecoin. Shiba Inu was introduced as the DOGE killer which brought countless buyers and investors to the market.

Investors are looking very much interested in the SHIB as the total value locked went to the moon.

Crypto enthusiasts say that DOGE and SHIB’s upward trend has been possible because of the Elon Musks one tweet.

Tesla chief Elon tweeted a picture of Floki puppy with the caption ‘Floki Frunkpuppy’. Self-proclaimed ‘Dogefather’ has been said to be the reason behind pumping doge and other dog-themed cryptocurrencies.

Floki Frunkpuppy pic.twitter.com/xAr8T0Jfdf

— Elon Musk (@elonmusk) October 4, 2021

Coinbase a cryptocurrency trading platform last month announced that its users can send, receive, trade and even store Shiba Inu on it.