Smart money accumulates $6 million in SHIB in 24 hours

Smart money accumulated almost $6 million of the meme coin SHIB in the last 24 hours, according to on-chain data firm Nansen. The only ERC-20 token that saw more smart money flow in the same period was Wrapped Bitcoin (WBTC), with over $9 million invested.

The biggest buy was registered by a Wintermute-tied address that accumulated close to $3.3 million in the last 24 hours. The latest big meme coin daily buy registered by a Wintermute trading wallet was $1.8 million in PEPE. Since then, the token inspired by the green frog meme has jumped 160%. The market maker has already started distributing its token holdings on different centralized exchanges.

Another address starting with 0x86b bought $2 million in SHIB in the past 24 hours. Nansen labels this wallet as a “Smart Liquidity Provider”, a title given to the most profitable investors mining liquidity from Uniswap v2 and similar applications.

Other tokens that saw accumulation by a considerable amount in the last 24 hours are eETH, LINK, and RNDR. A single wallet bought over $2 million of Ether.fi’s liquid staking token eETH in the last 24 hours. Meanwhile, Wintermute’s trading wallet was responsible for the $2.5 million LINK buy.

RNDR, the native token of a protocol that provides decentralized GPU-based rendering solutions, captured over $1.6 million in smart money between Feb. 27 and 28.

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