Another Ethereum Whale Buys Shiba Inu at Dips, Invests $171 Million in Meme Coins

Another mysterious whale has invested a whopping $171 million in buying a massive 79,228,162,513 Shiba Inu coins. According to the details shared by WhaleStats, the Ethereum whale bought the Shiba Inu dip on December 20 at around 10:51 (UTC).

"Ethereum wallet - 0x1c17622cfa9b6fd2043a76dfc39a5b5a109aa708 sent 79,228,162,513.26434 ($2,444,815) Shiba Inu token to ethereum wallet 0x2ee555c9006a9dc4674f01e0d4dfc58e013708f0," the transaction details revealed. Moreover, according to WhaleStats rankings, this whale is ranked 95.

Shiba Inu, a decentralised cryptocurrency, which is billed as the Dogecoin killer, is the 13th most valuable cryptocurrency in the market at present. It is a top choice among whales and is dominating the 'whale watch' segment among other popular ERC-20 tokens.

Shiba Inu Whale
Representational image / Pixabay

Well, this isn't the first case of whales buying the dip and filling their bags with meme coins. Last week, another mysterious Shiba Inu whale purchased 125 billion SHIB coins worth a staggering $ 4.2 million.

The transaction details were later available on Etherscan. According to the WhaleStats rankings, the whale is ranked second and is known to be among the richest whales dominating the crypto world.

Shiba Inu '1 Cent Dream'

If this trend continues, Shiba Inu might be able to achieve the '1 cent dream' of investors. The Elon Musk backed Dogecoin competitor SHIB grabbed massive attention from investors after it spiked to +360% in a span of three days in October 2021, luring many to buy the meme coin in bulk.

Yesterday, SHIB was recently bleeding as it traded for as low as $0.00002915 at a discount of 7.05 per cent over the last day's price on Monday. But the meme currency is gaining momentum as it looks like the Shiba Inu dips have triggered an uptrend allowing sidelined buyers to make the most of it.

Shiba Inu Listed on Taiwan's Biggest Crypto Exchange

While Shiba Inu awaits Robinhood listing, many other crypto exchange platforms have already listed the decentralised token. Recently, Shiba Inu was listed on Taiwan's biggest crypto exchange platform, BitoEx and will also be listed on Europe's biggest exchange called BitStamp in 2022.

WhaleStats report
Web Screen Grab

Shiba Inu Current Price

At the time of penning this article, Shiba Inu is currently trading at 0.00003201 up by +11.78% with a 24-hour trading volume of $1,880,562,203 USD, according to CoinMarketCap.

Crypto Exchanges Trading Shiba Inu Coin

The top 5 crypto exchanges trading Shiba Inu are - Binance, OKEx, FTX, Huobi Global and CoinBase Pro.

International Business Times advises crypto enthusiasts and investors not to fall for any rumors and be aware of the latest trends in the cryptocurrency market.

This article was first published on December 21, 2021