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Ethereum Whale Gimli Scoops Up another 110 Billion Shiba Inu Tokens worth $3.6 Million

A well-known Ethereum whale called Gimli has purchased an additional 110 billion Shiba Inu (SHIB) worth $3.6 million at the time of the purchase.

The huge transaction was first spotted and reported by WhaleStats, the platform that tracks top 1000 Ethereum whales.

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WhaleStats tweeted, “ETH whale “Gimli” just bought 110,000,000,000 SHIB ($3,624,500 USD).”

The whale, which bears the name of a fictional dwarf warrior created by writer J. R. R. Tolkien, currently holds $47.8 million worth of SHIB tokens, which is his second-biggest token.

Gimli currently holds a total of $1.6 billion worth of ERC-20 tokens, which makes him one of the biggest holders.

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This is the first SHIB purchase made the mega-whale this year. On Dec. 3, “Gimli” bought 28.2 billion SHIB tokens that were worth $1.1 million at the time of the purchase. This was preceded by another $2.4 million Shiba Inu buy on 2nd December 2021.

Shiba Inu remains the top choice of Ethereum whales, currently accounting for 14.67% of their total holdings. The FTX token (FTX), the native token of the eponymous crypto exchange, is in second place with a 13.37% share.

With that being said, the cryptocurrency is still down 61.69% from its all-time high of $0.00008616 that was reached on 28th October 2021.

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Over the last 24 hours, Shiba Inu (SHIB) is down relatively 1%, continuing its streak of lackluster price action. Yet, the most recent purchase shows that whales are not discouraged by such lethargic performance as they continue to buy the dip.

At the time of writing, SHIB is changing hands at $0.000032 on major spot exchanges.

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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.

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