ETH Whale Scoops 147 Billion SHIB as Massive Shiba Inu Tokens Burn Continues

Top Ethereum whales have continued the accumulation of Shiba Inu (SHIB), the hottest meme token in the market, despite the unfavorable market trend that has lingered for months.

Virtually all crypto observers are of the opinion that these whales are only leveraging the current price downtrend, believing that the dog-themed cryptocurrency will resurge eventually in terms of price.

Considering the reports about Ethereum whales’ activity over the last couple of weeks, the ETH whale codenamed BlueWhale0073 is one of the biggest whales that believe in the future prospect of Shiba Inu (SHIB). The rate at which BlueWhale0073 accumulates SHIB tokens lately is second to none.

BlueWhale0073 Buys 147 Billion SHIB

As reported by WhaleStats on the 27th of May, the 312th largest Ethereum whale, BlueWhale0073, bought 147,846,134,326 SHIB tokens worth $1,562,733 at the time of purchase.

According to the transaction details, the whale spent just $2 to complete the whopping purchase.

WhaleStats tweeted, “ETH whale “BlueWhale0073” just bought 147,846,134,326 SHIB ($1,562,733 USD). Ranked #312 on WhaleStats.”

Shiba Inu (SHIB) Burn Continues

At the time of writing, Shiba Inu (SHIB) is trading at $0.00001078, with a 4% price uptrend in the last 24 hours, according to CoinMarketCap.

The digital asset is now down 68% year-to-date (YTD), pushing the members of the community to keep burning SHIB tokens massively.

A couple of hours ago, Shibburn reported that Shiba Inu community members jointly burned 508.8 million SHIB tokens within 24 hours.

The recent development has now brought the total SHIB tokens burned so far to 410.3 trillion.

Shibburn tweeted, “In the past 24 hours, there have been a total of 508,825,823 $SHIB tokens burned and 15 transactions.”

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Solomon Odunayo

Solomon is a trader, crypto enthusiast, and analyst with over four years of experience in the industry. He strongly believes that crypto assets and the blockchain will continue to gain prominence. At TimesTabloid.com, he focuses on news, articles with deep analysis of blockchain projects, and technical analysis of crypto trading pairs.