Shiba Inu’s partner, Bad Idea AI (BAD), has experienced significant gains over the past 30 days. On-chain analytics provider Lookonchain draws attention to BAD’s 500% surge over the past month.
While highlighting this rally, it points to whale activity as a key thing to watch on BAD price.
This is so because whales, or large holders, strive to increase the value of their holdings to profit more, just like the majority of normal cryptocurrency investors. They can momentarily impact price patterns by either flooding the crypto market with coins or creating buy pressure since they have access to sizable crypto holdings.
A large buy order can significantly increase the price of a certain cryptocurrency because it informs the market that the asset is in demand.
Lookonchain draws attention to a massive BAD holder who owns 120.3 trillion BAD, which represents 14.5% of the total supply.
The on-chain analytics platform gives further insight into the activity of this whale. The said wallet spent 7.4 ETH to buy 139.5 trillion BAD, or 16.8% of the total supply, via three addresses within 15 minutes after the BAD token went live.
The whale is now left with 120.3 trillion BAD, worth $19 million, currently in seven wallets, after selling 19.2 trillion BAD for 225 ETH, or $414,000, earlier.
BAD soars 500%
Shiba Inu’s partnership has helped Bad Idea AI gain a lot of momentum. In a recent tweet, Shiba Inu teased big things coming as a result of the partnership.
According to CoinGecko data, BAD has increased 446% over the last 14 days as positivity builds up for the Shibarium and the Shiba Inu ecosystems. BAD hit an all-time high a day earlier, of $0.000000193994, and is now trading at $0.000000143534, down 18.6%.
According to a new tweet, Bad Idea AI has hit a LunarCrush AltRank of 131 out of the top 4,483 coins. This is because the token has seen increasing social engagement in the last 24 hours.