Whales buying cryptocurrencies in bulk has become a quite common phenomenon, but its impact is huge in the crypto market as it can lead to a bull run. According to latest WhaleStats report, a mysterious Ethereum whale has bought a staggering 442 billion Shiba Inu tokens in a single transaction before moving the fund to a larger wallet. The whale invested a whopping $11.9 million to fill his bags with the meme-inspired cryptocurrency $SHIB.
The transaction was spotted by the crypto whale tracking service WhaleStats, which has also notified through Twitter that it was seeing this buyer invest a huge amount on SHIB for the first time. The transaction also shows that the funds were later moved to a different wallet with over $100 million worth of digital assets.
However, the wallet currently holds $47 million worth of Shiba Inu tokens making it the largest investment alone. Other then SHIB, the whale also holds $21 million worth of $MANA, Fantom ($FTM), The Sandbox's $SAND and Ethereum (ETH).
Bigger Entertainment to Support SHIB Community Burn 10% of The Token's Supply
The Ethereum whale also holds $KNC, $CHZ, $BAT, $SUSHI, and $ENJ, in significant quantity along with dozens of other altcoins.
WhaleStats data shows on average, the top 100 richest ETH whales increased their holdings in SHIB by 2.216 billion tokens, which is a 259% rise.
🥳🥳 New #SHIB whale was born!!!
— WhaleStats - BabyWhale ($BBW) (@WhaleStats) March 2, 2022
Holds 442,637,867,858 $SHIB ($11,969,061)
Transaction: https://t.co/dWPnufEdk2
Welcome to the #SHIBARMY Family! pic.twitter.com/ueJJrcs5m6
The whale transactions comes as plans to burn the meme token SHIB through various initiatives have been growing. Steven Cooper, CEO of crypto entertainment firm Bigger Entertainment, recently clarified in a tweet that the company will support the community of the meme-inspired cryptocurrency in burning 10% of its supply, according to a CryptoGlobe report.
Shiba Inu Current Price
At the time of publishing, Shiba Inu was trading at $0.00002413, down by -2.90% in a 24-hour period while the world's largest cryptocurrency Bitcoin was trading at $39,065.76, down by -5.81% and once again leaving traders disappointed.
