• The whale has amassed 4.41 trillion SHIB tokens, putting it in the 27th position.
• SHIB was able to break over the key psychological barrier of $0.00001 recently.

A new whale has come to the forefront after purchasing $40 million worth of Shiba Inu (SHIB) in one transaction, which is an incredible show of support. The whale has amassed 4.41 trillion SHIB tokens, putting it in the 27th position among the top holders of SHIB, according to statistics from Etherscan.

Whale Alert has reported the appearance of this large SHIB buildup. Shiba Inu has also been doing very well recently, with its token seeing a spectacular over 25% spike in price over the previous month after finally breaking away from a consolidation period that lasted until August 4.

Awaiting Shibarium Launch

With this surge of buying pressure, SHIB was able to break over the key psychological barrier of $0.00001, marking a new four-month high. According to data compiled by Santiment, a market intelligence organization, SHIB’s price has undergone a remarkable increase over the last month, and trading volume has reached a new six-month high.

There have been recent attempts to dispel myths regarding the Shibarium campaign and the anticipated release of additional tokens inside the Shiba Inu ecosystem. As curiosity in Shibarium and its possible implications on the Shiba Inu ecosystem develops, the value of the Shiba Inu Token (SHIB) has demonstrated resilience by rising by more than 9 percent in the last week.

Interest in SHIB and associated currencies has been fanned by the “Summer of Shibarium” effort, which will feature exciting releases upon the expected debut of Shibarium’s Layer 2 blockchain later this month.

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