Overnight, a significant amount of Shiba Inu (SHIB) tokens were acquired by major whales. It is estimated that about 25 trillion SHIB tokens have been grabbed, which amounts to over $4 billion in value. This has caused the price of the token to surge significantly and it is now trading at around $0.000035 per coin on some exchanges.
This acquisition appears to be part of an ongoing trend as many large investors have taken advantage of low prices for digital assets such as SHIB during this bear market period. These whales are likely hoping that if these assets increase in value they can make huge profits from their investments down the line.
The massive accumulation by top players has also had a positive effect on other smaller investors who bought into SHIB prior to this event; with its current price up nearly 30x since its launch just two months ago, those who invested early are reaping rewards now more than ever before!