- A Shiba Inu whale accumulated 220 billion tokens worth $4.63 million.
- SHIB has surged by 4.47% over the past 24 hours.
Shiba Inu [SHIB] has started 2025 on a high note. Since New Year’s Eve, the memecoin has surged from $0.000020 to a high of $0.000022. This marked a 10% increase over the past three days.
This trend has continued on daily charts. In fact, as of this writing, Shiba Inu was trading at $0.00002208, a 4.47% increase in 24 hours.
Prior to these gains, the memecoin had been on a downward trajectory. As such, SHIB had dropped by 25.50% on monthly charts.
The newfound momentum has left everyone discussing its underlying factors. According to analysts, increased whale accumulation is one driving force behind the recent upsurge.
Shiba Inu whale accumulates 220B tokens
According to Lookonchain, Shiba Inu whales were actively accumulating the memecoin. As such, over the past day, a whale withdrew 220 billion SHIB tokens, worth $4.63 million at press time.
This whale has been dormant over the past five months.
Source: Santiment
This whale accumulation occurred within a broader trend, as whales have been accumulating the memecoin over the past week.
Over this period, whales have increased their holdings by 2.32 trillion tokens, according to Santiment.
