The hunger of whale investors for Shiba Inu grows as another 47.7 billion SHIB coins are purchased. With the price of all cryptocurrencies dropping below forecasts, whale traders are taking advantage of the situation to boost their holdings. A recent purchase of several Shiba Inu (SHIB) tokens by an Ethereum whale supports this notion. According to Whale Stats, in the early hours of Monday, an Ethereum whale purchased 47,743,646,900 (47.7 billion) SHIB coins for roughly $1.27 million.
The Ethereum whale spent $0.000026719 for a unit of SHIB. The current purchase is part of the Shiba Inu coin’s ongoing whale-accumulation frenzy. Remember that the Shiba Inu team has been working on new efforts to help the cryptocurrency evolve from a meme-coin to a utility project. Shiba Inu is getting increasingly decentralized by the day, following in the footsteps of ShibaSwap and Shiboshi. With all of these strategies in motion, high-net-worth investors are looking for better ways to boost their SHIB holdings in order to profit from the impending crypto market stabilization surge.
Whales have been buying SHIB for millions of dollars since the beginning of the year in order to expand their crypto holdings. During a market downturn last month, an Ethereum whale purchased 110 billion SHIBs valued about $3.6 million, paving the way for more whale investors to purchase Shiba Inu. In a related situation, another whale paid $4.2 million for 139 billion SHIBs last week.
Surprisingly, the year’s largest whale accumulation can be found in the birth of a new investor. The latest whale investor amassed a whopping 3.4 trillion Shiba Inu for $115 million, according to reports.
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