Tuesday, June 18, 2024
HomeCryptocurrencyA Top ETH Whale Takes Advantage of Low Prices to Grab 375...

A Top ETH Whale Takes Advantage of Low Prices to Grab 375 Billion SHIB Tokens in a Single Transaction

Some Ethereum whales only see the current situation in the market as an opportunity to accumulate more of the hottest dog-themed digital currency, Shiba Inu (SHIB).

A top Ethereum whale codenamed BlueWhale0073, who has been on a SHIB accumulation spree over the past couple of days, has recently grabbed more SHIB tokens in billions.

Read Also: Rain Crypto Exchange Just Listed Shiba Inu As SHIB Gains Recovery Momentum

BlueWhale0073 Buys 375 Billion SHIB Tokens

According to WhaleStats, BlueWhale0073 has initiated the purchase of another whopping 375.97 billion SHIB tokens worth $4.56 million to probably take advantage of the current situation in the crypto market.

According to the report, it took the whale a single transaction to initiate the huge purchase.

WhaleStats tweeted, “ETH whale “BlueWhale0073” just bought 375,977,961,547 SHIB ($4,568,132 USD). Ranked #329 on WhaleStats.”

The major capitulation that caused the major price dip in the crypto market started on the 9th of May 2022. This negative trend made Shiba Inu (SHIB) lose its previous support at $0.0000171 to trade as low as $0.0000095, representing about 46% price loss within a few days.

Read Also: A Whale Sold 5 Trillion SHIB; Is This Why SHIB Dipped Over 31%, Could This Be Justin Sun? Details

Despite the major sell-off, BlueWhale0073 has been specifically and relentlessly accumulating Shiba Inu tokens. The popular whale has managed to purchase a total of 1.64 trillion SHIB worth $21.1 million via six different transactions. And many within the Shiba Inu community believe that the whale is initiating the whopping buys to take advantage of low prices.

In another development reported by WhaleStats, Shiba Inu (SHIB) is number five among the top 10 purchased tokens by 2000 biggest Ethereum whales within the last 24 hours.

<


Follow us on Twitter, Facebook, Telegram, and Google News

Tobi Loba
Tobi Loba
Tobi Loba is a passionate writer with a vast interest in the stock market. She joined the crypto ecosystem about three years ago and has written lots of ebooks and articles in relation to cryptocurrency and blockchain projects. Tobi Loba earned her degree at the University of Ibadan.
RELATED ARTICLES

Latest News & Articles