Despite the memetoken’s poor pricing performance, the third-largest whale on the Ethereum network, known as “Tsunade,” purchased 86 billion SHIB tokens. The total value of the deal is $2.3 million.

Ethereum Whale Tsunade Just Grabbed 86 Billion SHIB As Whales’ Interest In Shiba Inu Grows https://t.co/YGURXNrzPp #bone #leash $shib #shibaswap #shibainu #100xgem

— Shiller Whale 🐋🌊 (@ShillaWhale) April 3, 2022

While SHIB was battling to break through the March 2 resistance, the wallet, which presently owns around $3.5 billion in various digital assets, made a considerable buy. Sadly, the purchase did not affect SHIB’s price. Despite having purchased many tokens, Shiba Inu is not the address’s largest holding. The “American Born Doge” token is the wallet’s largest holding, according to the WhaleStats wallet website. USDOGE worth $1.8 billion is now held at the address. A PAXG coin sits in the second position on the wallet, allowing investors to have exposure to Gold through digital assets. Currently, the whale has two trillion SHIB worth about $47 million.

Market performance of Shiba Inus

Shiba Inu’s price trend stalled after reaching $0.000027, despite a string of massive purchases by whales in the previous month. In March, the token’s highest point was $0.000029, which was regarded as a significant psychological hurdle given the token’s failure to break past earlier in the month.

#Shib continues to play a role in crypto adoption, Your favorite #cryptocurrency is now available in 1800 BTMs in the United States 🇺🇸

The #ShibArmy welcomes you, @BTCofAmerica.https://t.co/p9tsCndym8

— Shib (@Shibtoken) April 4, 2022

Moving averages on Shiba Inu nearly had a “death cross,” which is essentially a crossing out of the 50- and 200-day moving averages when the “shorter” MA goes below the “longer” one. The crossing out did not occur due to the relief in the cryptocurrency market. SHIB gained over 30% in March, resulting in moving averages separating. As a result, cryptocurrency is now officially on the global rise.