Binance Buys 8.6 Trillion Shiba Inu Coins Right After Purchasing 75 Trillion Tokens?

The cryptocurrency app Binance seems to be on a shopping spree by adding trillions of Shiba Inu coins to its portfolio by making maximum use of the 'dip'.

Just a few days ago, Binance purchased 75 trillion Shiba Inu tokens by paying $500 million. After the second dip the next day, Binance seems to have brought another 8.6 trillion SHIB coins making it the biggest pump the meme-cryptocurrency has ever recorded in 2021.

Binance buys 8.6 trillion Shiba Inu coins

In total, Binance has brought 83.6 trillion Shiba Inu tokens. It is reported that Binance' wallet stood at 5 trillion a few days ago and suddenly jumped to 84 trillion in just a day after the large purchase.

However, despite receiving such a staggering and the biggest pump in July, Shiba Inu is still trading with mixed signals and is up only +0.16% in the days trade.

Binance buys 8.6 trillion Shiba Inu coins
Reddit / Shiba Inu

Binance's large purchase has thrilled the Shiba Inu army of investors giving hope that the coin is headed in the right direction and would soon reward everyone with fistful of dollars.

Both the large trades of 75 trillion and the new 8.6 trillion tokens was first spotted and reported in the Shiba Inu's Reddit group of 'whale watchers' who closely monitor the happenings of the coin.

Binance buys 75 trillion Shiba Inu coins

Also, data shows that Binance now owns a staggering 11.0598% in Shiba Inu and is among the largest stakeholder of the crypto.

However, it is not known if Binance has purchased all the 83.6 trillion SHIB coins or have transferred thousands of investors tokens to their wallet in the form of exchanges.

Binance owns 11% of Shiba Inu coins
Reddit / Shiba Inu

Binance's wallet, however reflects trillions of SHIB coins in their portfolio but there is no confirmation if they have indeed purchased the coins or have transferred customers tokens through exchanges.

An investor claimed that Binance might not have brought all the SHIB coins and the trillions of tokens might be in the form of exchanges. ''Binance didn't purchase all those tokens. If you open up a Binance account and then you decide to transfer your SHIB tokens to Binance from your private wallet, those tokens show up in Binance's wallet. Binance didn't buy them from you, and you are still the owner of those tokens.''

Binance is yet to give out an official confirmation. Shiba Inu was trading at $0.00000619 at the time of publishing and was up +0.16% in the days trade.