Two Ethereum Whales Buy 3.6 Trillion SHIB within 2 Hours with 8 Transactions

Despite the current massive downtrend in the cryptocurrency market, crypto whales have continued to add to their gargantuan holdings. Ethereum whales are specifically not holding back from accumulating more Shiba Inu tokens.

According to WhaleStats, the tracker of the top 1000 Ethereum wallets, two ETH whales purchased a total of 3.6 trillion SHIB tokens worth $73.4 million with 8 transactions.

The report added that the new development now makes Shiba Inu (SHIB) the most traded token by the top 1000 ETH wallets.

WhaleStats tweeted, “Looks like whales are really hungry for SHIB. Two ETH whales just added total 3.6T SHIB ($73.4M) in the past 2hrs with 8 transactions. SHIB now is most traded token by the top 1000 ETH wallets.”

The most recent activity of Ethereum bag holders involved the movement of 606.35 billion SHIB by an Ethereum whale, according to WhaleStats.

WhaleStats also tweeted, “An ETH whale just bought 606,352,106,247 $shib ($12,133,105 USD).”

The Ethereum whales’ purchases could have been aimed at both buying the market dip and supporting the recovery rally on the market. But based on the chart on Trading View, the large buys were unable to save SHIB from following the major of the market.

Although SHIB grew in terms of price by relatively 16% on the weekend, it retraced below $0.00002, touching a value the market has not attained since the beginning of October 2021.

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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.