Shiba Inu's Profitability Rises to 46% as Expectations for Future Announcements Increase

Per IntoTheBlock data, the profitability of the second-largest meme cryptocurrency, Shiba Inu (SHIB), has increased to 46% after dropping to as low as 35% earlier in March.

Shiba Inu presently trades at $0.000027 after reaching highs of $0.0000296 on March 28. SHIB has demonstrated growth over the past week, up 14%, per CoinMarketCap data.

As seen on the official SHIB Twitter handle, the Shiba Inu community, ''ShibArmy,'' is being teased with a major announcement slated for today. As the community continues to wonder what the update could be about, Shiba Inu whales are massively accumulating.

Anonymous whales purchased billions of Shiba Inu tokens amid its 30% run in March following a massive increase in the number of large transactions and positive price action. In the last 24 hours, over 621 billion SHIB have been grabbed by the top ETH whales, as blockchain data tracker WhaleStats reports four large SHIB transactions.

Last 24hrs, a whale names "Gimli" just bought 421,370,420,624 $SHIB worths $11,313,795 in two transactions:

🥇 https://t.co/xBg4n1sRRC
🥈 https://t.co/sH4HtZ49tA#ShibArmy, let's make some noise! Woof! Woof! 🐕🐕 pic.twitter.com/GA3YgL9NbY

— WhaleStats - BabyWhale ($BBW) (@WhaleStats) March 30, 2022

The first set of transactions reported was that by a whale named "Gimli," who bought 421,370,420,624 SHIB worth $11,313,795 in two transactions. The first transaction was of 150,000,000,000 SHIB, or $4,027,500 worth, before the second one of 271,370,420,624 SHIB, or $7,286,295 million.

Another whale, who purchased a smaller amount of Shiba Inu tokens, made one transaction worth $1,360,960, or 50,687,552,959.

🐋 An ETH whale just bought 150,000,000,000 $shib ($4,053,000 USD).

Ranked #167 on WhaleStats: https://t.co/b0sIz9f1O1

Transaction: https://t.co/jSFa7104tO#SHIB #ShibArmy

— WhaleStats - BabyWhale ($BBW) (@WhaleStats) March 29, 2022

The fourth large transaction reported by the blockchain data tracker is that of an ETH whale ranked 167th who bought 150,000,000,000 SHIB, or $4,053,000 worth.

The accumulation spree embarked on by top holders resulted in 24-hour trading volumes increasing by 523%.

WhaleStats' analysis of the top 100 Shiba Inu holders reports a 110% rise in the average SHIB balance of this category of investor. The average SHIB value of their portfolio has also grown by 127%. Netflow has likewise increased by over 826% over the last 24 hours.