Although the crypto market has been experiencing massive sell-offs as prices of cryptocurrencies continue to crash, which is notably affecting the price of Shiba Inu (SHIB), the top ETH whales are still relentlessly accumulating the hottest and most popular dog-themed digital asset.
Amid the sell-off event, the price of Shiba Inu (SHIB) experienced a massive dip to trade below $0.000008. This even made Ethereum’s biggest holders become more active in their SHIB accumulation spree.
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BlueWhale0073 Buys 356 Billion SHIB
According to the report shared by WhaleStats, the tracker of 5000 biggest Ethereum bag holders, an ETH whale identified as BlueWhale0073 bought a whopping 311,816,880,855 SHIB worth $3,001,745 at the time of purchase.
The report says the whopping purchase was carried out in a single transaction. It should also be noted that the ETH whale is currently ranked 690 on WhaleStats.
WhaleStats tweeted, “ETH whale “BlueWhale0073” just bought 356,078,908,730 SHIB ($3,001,745 USD). Ranked #690 on WhaleStats.”
🐋 ETH whale "BlueWhale0073" just bought 356,078,908,730 $shib ($3,001,745 USD).
Ranked #690 on WhaleStats: https://t.co/RBupen06Pv
Transaction: https://t.co/RdcltXGUmz#SHIB #ShibArmy
— WhaleStats – BabyWhale ($BBW) (@WhaleStats) June 13, 2022
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Shiba Inu (SHIB) and Other Cryptocurrencies in the Market
Obviously, the bear market has overwhelmed all cryptocurrencies, including the top two cryptos in the market, Bitcoin (BTC) and Ethereum (ETH).
Bitcoin is now trading at around $20,000, while Ethereum is priced at around $1,200. Some analysts believe that the market could still dip more before recovery.
The negative trend has also affected the price of Shiba Inu (SHIB). This is not strange since it’s a market-wide bear market and prices will eventually rebound.
At the time of filing this report, SHIB is trading at $0.000008283, with a relatively 10% price upsurge in the last 24 hours.
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