As many as 110 billion Shiba Inu (SHIB) tokens have been purchased by a prominent Ethereum whale.
Whales buy SHIB on
An Ethereum (ETH) whale called “Gimli” has purchased an additional 110 billion Shiba Inu (SHIB) tokens, according to WhaleStats. At the time of purchase, these were worth $3.62 million.
The whale bears the name of a fictional dwarf warrior created by writer JRR Tolkien. He currently owns $47.8 million in SHIB tokens, which is his second largest token. Gimli owns a total of $1.6 billion in ERC-20 tokens, making him one of the largest holders.
This is the first SHIB purchase the megawhale has made this year. On December 3, “Gimli” purchased 28.2 billion SHIB tokens worth $1.1 million at the time of purchase. This was preceded by a $2.4 million purchase of Shiba Inu on December 2.
Shiba Inu remains the favorite of Ethereum whales and currently accounts for 14.67% of their total holdings. The FTX token, the native token of the FTX exchange, is in second place with a share of 13.37%.
Decline Since Reaching All-Time-High
That said, the cryptocurrency is still down 61.69% from its all-time high of $0.00008616 reached on October 28.
The second largest meme coin dropped 2.24% in the past 24 hours. Still, the most recent purchase shows that whales are not discouraged by such achievements. They keep buying the dip. Currently, SHIB is trading at $0.000032.
