Whale Holding 31 Trillion Shiba Inu Coins Buys Another 35 Billion SHIB Worth $1.3 Million During the Dip

A mysterious and unidentified Shiba Inu whale purchased 35 billion SHIB coins worth a staggering $1.3 million during today's dip.

The whale in question at present holds 31 trillion SHIB tokens valued at a whopping $12 million. The whale has been steadily adding Shiba Inu to his/her portfolio almost every time during the dips.

Shiba Inu Whale
Representational image / Pixabay

However, the identity of the whale remains to be a mystery and no one knows if it's an individual, exchange platform, business entity or a financial institution that's behind these enormous transactions.

WhaleStats was the first to reveal details about the whale's transactions and tweeted, "UPCOMING whale. An ETH wallet just bought 34,999,133,058 $SHIB ($1,329,708 USD). https://whalestats.com/transaction/ethereum/0xb4eb3b331eab0c30be09b5e1fdbd1b84ed1dbfa07593d8bd81faa8720b79f9b8 Stay tunedEgg#friendshib #1MFRIENDSHIBS #ShibArmy."

WhaleStats also shared a GIF along with the tweet poking fun at holders that sold their SHIB coins because it dipped. The entire transaction details of the whale is available on the WhaleStats website. The whale purchased the SHIB coins through Binance.

Whales have been steadily adding SHIB tokens to their bags during each dip and made the most out of its low hanging price. Since close to two months in a row, Shiba Inu is the most loved token among the top 1000 ETH whales in the ERC-20 network. The meme-currency has dominated the whale watching section and could continue the trend for many more months to come.

It is argued that the whales are buying SHIB en-masse with the belief that the coin will soon be listed on the Robinhood app. A Robinhood listing can make its price head north and delete 'zeroes' in the indices. Thus, taking an early entry position before the take off is why the whales are adding the token to their bags.

However, Robinhood has not confirmed that a Shiba Inu listing will go through any time soon. In fact its CEO Vlad Tenev didn't respond to a question in CNBC about RH-SHIB listing. Even its crypto division head Christine Brown openly stated in an interview with Decrypt that RH is not in a hurry to list the coin. Their Robinhood Comms Twitter handle tweeted twice that a listing won't go through.

Despite all of these, investors still believe that Robinhood will indeed list Shiba Inu in the near future. At the time of publishing, Shiba Inu was trading at $0.00003853 and is down -6.45% in the days trade.