Ethereum Whale Buys $2M Worth of Shiba Inu Coins

A major Ethereum investor has invested roughly $2 million in a large chunk of Shiba Inu on the cheap.

Another large Shiba Inu purchase was recently announced by WhaleStats, a cryptocurrency tracking firm. Despite several incidents of adoption, one Ethereum whale has purchased 187 billion meme coins, while the SHIB price continues to fall.

Whale “BlueWhale0159” has paid $1,985,940 for 187,000,000,000 Shiba Inu coins.

This whale’s USDC stablecoin portfolio accounts for 95.38 percent of his total holdings. The total amount of his Ethereum blockchain crypto assets is $241,709,014.

This investor has already sold a considerable amount of the second largest meme cryptocurrency, according to the page of his wallet.

According to WhaleStats, Shiba Inu is now in the top ten most purchased cryptocurrencies as well as the top ten most sold cryptocurrencies.

On June 1, another top Ethereum whale, “BlueWhale0073,” bought 130,419,267,297 SHIB worth $1,531,122 back on that day.

Major ETH investors have been dumping their Shib tokens, according to the WhaleStats website.

According to the data, Ethereum whales’ overall SHIB balance is now less than $500 million – a total of $495,453,149, or 11.13 percent of their portfolio.

SHIB comes in second place behind FTX Token (19.87 percent) and third place behind USDC stablecoin, which has gained a lot of traction recently after Terra’s UST stablecoin lost its dollar peg and USDT’s peg saw temporary volatility below the $1-$0.99 barrier.

Payments in SHIB and other cryptos are now available to more than 200 million customers throughout the world thanks to BitPay and Edge’s collaboration.

SHIB has lost 41.7 percent of its value in the last 30 days as a result of recent cryptocurrency market volatility. To sum up, it will be interesting to see if the Shiba Inu (SHIB) community’s active, increasing community, together with new alliances, will speed the market price recovery.

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Sahil likes to use his great writing skills to curate articles about Crypto and KPOP here at Clout News.