HomeNEWSETH Whales Buy The Dip, Rack Up 175 Billion More SHIB

ETH Whales Buy The Dip, Rack Up 175 Billion More SHIB


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When Shiba Inu (SHIB) recently announced its own Metaverse and its many distinct features, Ethereum (ETH) whales responded by stacking up their SHIB holdings. However, it looks like they are not even done yet. This is because, a recent Whalestats report suggests that these ETH whales have just purchased an additional 175 billion Shiba Inu tokens in the last 24 hours. That’s worth over $4 million as at press time.

ETH whales buy the dip

According to Whalestats report, the purchase of 175 billion SHIB happened over just 3 transactions. But it was by a single ETH whale called ‘Bombur.’ Interestingly, the move has now sent Shiba Inu up unto the list of top 10 most-purchased tokens by ETH wallets in the last 24 hours.

Meanwhile, from all indications, ETH whales look to be taking advantage of the price dip to add to their tally of SHIB. And for that reason, the meme coin currently holds the 4th spot.

Another interesting angle to look from would be the fact that the whales may now be holding off from buying.This is because Shiba Inu can be easily seen on the list of top tokens purchased in the last 7 and 30 days. However, within the last 24 hours, the coin has not even made it to the “top 10 coins sold”. Therefore, it might be convenient to say that the whales are waiting for the price to surge.

Source: WhaleStats

SHIB now up by 1%

As per Whalestats data, Shiba Inu is the second largest coin being held by the ETH whales that’s not ETH token. And that’s of course, after the FTX token. Presently, more than $1.4 billion worth of SHIB tokens are in the possession of top whales. That makes up an amazing 14.3% of the entire SHIB holdings. Meanwhile, the FTX token is still the biggest coin held by the ETH wallets. They own over $1.9 Billion worth of FTX tokens.

Meanwhile, as at publication time, Shiba Inu has lost all the gains it registered yesterday on Thursday. The coin is up by over 1% in the last 24 hours and trading at $0.00002627.

Read more:

Why Ethereum Whales are hunting for SHIB

Shiba Inu to release 99, 000 land plots via Shiberse

Ethereum Whale acquires over 47 billion Shiba Inu Coin

mayowa adebajo
mayowa adebajo
Mayowa Adebajo is a fintech enthusiast with a decade long experience writing news stories and creating content generally. When he's not writing, he's either talking politics or discussing sports.

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