An anonymous account purchased 276.6 billion SHIB on Monday night

SHIB prices surged 22% on Tuesday to $0.00004950, a record high, after an anonymous cryptocurrency account bought 276.6 billion Shiba Inu coins on Monday evening, spending a total of about $11.5 million.

The purchase brings the total Shiba Inu coins held by this cryptocurrency "whale" to 316.5 billion, worth about $15 million.

SHIB currently has a market value of $23,947,950,860, reclaiming its place as the world’s 11th largest cryptocurrency, a position it had previously held over the weekend, but which had seen its price fall sharply after Musk tweeted that he did not hold Shiba Inu coins. However, if SHIB wants to be among the top 10 cryptocurrencies by market value, it would need to nearly double in value to catch up with USDC’s market value of about $33 billion.