A total of 123.53 trillion SHIB were held by Shiba Inu billionaire addresses as of July 17.
The difference comes down to an increment of 20.35 trillion SHIB accumulation.
Shiba Inu billionaire addresses, defined as those with 100 billion to 1 trillion SHIB, have amassed trillions of cryptocurrency over the previous 30 days, as per data from IntoTheBlock. Traders and investors alike are piling up SHIB. According to IntoTheBlock data, Shiba Inu billionaire addresses have further accumulated 20% SHIB as a whole.
A total of 123.53T SHIB were held by Shiba Inu billionaire addresses as of July 17. This is up from 103.18T SHIB as of June 19. The difference comes down to an increment of 20.35 trillion SHIB accumulation.
According to IntoTheBlock statistics, the SHIB held by large whales has increased significantly over the last week. A rise in SHIB holdings by major players may indicate increased purchasing activity.
All Eyes on Upcoming Mainnet Launch
Moreover, the increase in the SHIB holdings by billionaire addresses may be linked to the upcoming launch of Shibarium mainnet. The Blockchain Futurist Conference, set for August 15 and 16 in Toronto, Canada, has Shiba Inu as its official title sponsor. The lead developer of SHIB, Shytoshi Kusama has hinted launch of the Shibarium mainnet at this event.
On the other hand, a Shiba Inu team marketing expert has resorted to Twitter to reassure investors about the token’s recent performance. Developer team inaction at this moment cannot be blamed for the current price consolidation of SHIB, as indicated by @LucieSHIB on Twitter.
Instead, Lucie cited the approaching Bitcoin halving as the key cause for the general cooling of crypto prices. Also, Lucie believes that over the fall and winter months, positive developments will surface. Thus, resulting in a strong market mood and a likely increase in crypto prices.