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Whale Watch: Whales Buy 1.6 Trillion SHIB Taking Advantage of the Dip

According to recent Etherscan.io data, ETH whales have bought more than 1.6 trillion Shiba Inu (SHIB).

Shiba Inu, the second-largest meme coin, has been on the move in massive amounts in the last 24 hours, according to Twitter user @shibaplay_. SHIB’s price suffered a significant dip earlier today, shedding more than 6% of its value, and whales pounced on the opportunity.

Read Also: Will Shiba Inu (SHIB) Ever Reach $1? Here’s What This Bitcoin Proponent Has To Say

Whales Grab and Move 1.6 Trillion SHIB.

To highlight these spectacular SHIB transfers, the Twitter user shared links to Etherscan. An unidentified whale purchased 50,656,885,934 SHIB on Coinbase and withdrew the funds to his cold wallet. Etherscan reveals that this whale purchased three sizable chunks of SHIB in addition to this one.

Another investor bought a sizable chunk of SHIB on Binance, totaling 199,999,679,531 SHIB, and transferred it to a cold wallet.

Between anonymous wallets, the largest Shiba Inu tokens transfers in this series moved a staggering 417,167,400,278 SHIB and 796,958,896,631 SHIB. Their respective worths are $5,118,644 and $9,730,868. Due to a higher SHIB exchange rate vs the USD at the time of purchase, the second transfer was worth about one million USD more.

Read Also: Amazon’s Impact Boosts Shiba Inu (SHIB) Burn Rate By 888%

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SHIB Price Dips by 6%

The dog-inspired meme coin dropped in value earlier today by 6%, plummeting in a single red candle within an hour. After an almost 20% price jump, the 20 percent gain that had begun a few days earlier abruptly ended. The latter is probably due to the cryptocurrency market’s overall resurgence when the leading cryptocurrency, Bitcoin, hit the $22,000 mark.

SHIB Drops Out of the Top 4 Biggest ETH Wallets

The second-most popular meme coin, SHIB, has fallen from the top 4 positions among Ethereum whales’ holdings to the 6th position, according to data posted on the WhaleStats website. As of this writing, the top 100 Ethereum wallets have Shiba Inu valued at $152,100,683. Their portfolio as a whole has 3.89 percent of this. Tokens LOCUS and stETH, in positions 5 and 4, are just behind SHIB.


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Oluwademilade Afolabi
Oluwademilade Afolabi
Oluwademilade is a freelance writer focused on cryptocurrency and blockchain technology. He has experience in content writing and digital journalism. Since 2019, he has contributed to several online websites, and several prominent media outlets and professionals in crypto have acknowledged his writing. Besides writing, Oluwademilade likes to read, play the bass guitar, and travel.
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