Ethereum Whale Buys Additional 31 Billion Shiba Inu (SHIB)

A pseudonymous Ethereum (ETH) whale identified as Gimli has continued to accumulate the popular meme-inspired token Shiba Inu (SHIB) by adding 31 billion SHIB worth $1.7 million to his portfolio, bringing his worth to over $47 million.

The notable accumulation was first spotted and reported by WhaleStates, noting that Gimli purchased 31.3 billion SHIB tokens.

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A look at Gimli’s wallet shows that they have over $90 million worth of cryptocurrency in their portfolio. Shiba Inu currently represents over half of that value, as they hold 863 billion SHIB, worth over $47.4 million.

Their second-largest holding is Ethereum, representing 21.6% of their total holdings at $19.7 million. Next is Decentraland (MANA), which represents 7.6%, followed by Fantom (FTM), representing 6%.

The whale also holds in smaller amounts Polygon (MATIC), Chainlink (LINK), Chiliz (CHZ), Enjin (ENJ), and Orchid (OXT). Other holdings in their wallet represent less than 1% of the total.

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The whale, as once reported, bought 153 billion SHIB in a large transaction earlier this month, to at the time bring their total holdings to 629 billion tokens. The whale has been accumulating SHIB even as the cryptocurrency’s price drops.

The cryptocurrency is up well over 460% in the last six months but started dropping in late October as the retail trading frenzy that helped it surge started cooling. Since the beginning of the month, it’s been down over 10%.

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