Cody McGrath 
Another massive Shiba Inu purchase by another ETH whale has been spotted on the cryptocurrency market but it most likely won’t affect the Shiba Inu price
Another Massive Purchase By ETH Whale
Another massive Shiba Inu purchase has been spotted on the cryptocurrency market, as an anonymous whale purchases 70 billion tokens, cementing SHIB’s position as the largest among Ethereum whales.
A large purchase was made 13 hours ago, according to the transaction page, which could have contributed to the recent 3 percent price increase. Shiba Inu’s total USD-valued holdings remain at $1.2 billion, the highest level since April.
Shiba Inu’s first place as the largest USD-valued holding among whales was recently challenged by FTX Token, which briefly took first place before returning to first place thanks to whales’ daily support of SHIB.
Shiba Inu (SHIB) Market Performance
Unfortunately for most SHIB investors, the asset has been unable to recover from the market’s recent volatility crisis. Shiba Inu’s average daily volatility stayed at around 4% during rangebound trading, which is a very low value for an asset that used to have 10% to 20% spikes within the daily candle on the chart.
Indicators like exponential moving averages that move a few percentage points apart from each other confirm the volatility crisis, implying that traders aren’t actively trading the token.
Whales’ large purchases of Shiba Inu tokens are typically made through OTC desks, private trading, or placing orders through market makers to avoid liquidity issues and slippage, which is why they have little impact on the price of an asset.
SHIB is currently trading at $0.00002375, with a 24-hour price performance of mildly positive.