Whale Buys 4 Trillion SHIB Tokens Amid Renewed Interest in Shiba Inu Ecosystem

According to CryptoPotato, a massive whale purchased 4 trillion SHIB tokens, worth around $40 million, on Sunday. This is the largest acquisition for SHIB in December, as whales remained relatively inactive throughout Q4 2023. The whale appears to be holding its SHIB tokens instead of transferring them to another wallet, sparking rumors of a possible long-term hodling strategy. The whale's identity and actions remain unclear, but could indicate over-the-counter (OTC) trades or simply wallet reshuffling. A month ago, a similar transaction of 4.4 trillion SHIB was reported by an anonymous whale whose address was created 12 hours before the transfer occurred. The latest whale activity coincides with a renewed interest in the Shiba Inu ecosystem, which is experiencing a surge in network activity not seen since August, with a 40% uptick in active addresses engaging in their initial SHIB purchases. However, SHIB's price is down 8% at the beginning of the week, aligning with the significant market correction reported on Monday. Most of the top 20 cryptocurrencies by market cap are in the red. Despite the decline, SHIB has recorded notable double-digit gains for two consecutive weeks. Shibarium, SHIB's scaling solution, is considered the main factor behind SHIB's price rally, as the network recently surpassed 80 million processed transactions. There are 90,000 addresses that collectively hold over 422 trillion SHIB at $0.000016, while the number of wallet addresses has also risen to 1.3 million. Although SHIB and Shibarium have reached significant milestones in terms of price and network activity, only 23% of SHIB holders are currently in profit, and 62% are facing losses.