Shiba Inu (SHIB) has been making waves with significant movements by prominent figures and anonymous entities alike, according to decentralized finance tracking service Lookonchain.
Recent data has shown that Tron founder Justin Sun, alongside various “whale” investors, have been notably increasing their stakes in SHIB.
A deep dive
One such instance includes a fresh wallet, identified as “0xa656,” which withdrew 237.87 billion SHIB, amounting to $2.56 million, from the prominent cryptocurrency exchange Binance.
Related
This signals growing confidence among new investors in the potential of SHIB.
Additionally, two other wallets, “0xfa22” and “0xF17f,” possibly controlled by the same investor, have collectively scooped up 850 billion SHIB for $7.57 million, further cementing the notion that big players are betting on the future of this meme coin.
The SHIB ecosystem is in the green
The SHIB ecosystem is currently enjoying a period of positive performance. The value of SHIB has shown an increase of 5.11% over the past 24 hours.
Related tokens within the SHIB ecosystem, such as BONE and LEASH, which have similarly experienced upticks of 3.81% and 5.57% respectively.
The whole ecosystem is currently experiencing a resurgence with the rapid rise of Shibarium and new partnershibs.
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