Shiba Inu (SHIB) recently announced its own Metaverse with several interactive features. This news motivated Ethereum (ETH) whales to collect SHIB in bulk transactions. According to Whalestats, the largest of the ETH portfolios have added more than $4 million worth of 175 billion Shiba Inu tokens in the past 24 hours. It is interesting to note that the world’s second largest meme cryptocurrency has fallen by 8%.

ETH whales bought the dip

The Ethereum whales have taken advantage of the price dip to add more SHIBs to their total. This move has led Shiba Inu to land on the list of top 10 tokens bought by ETH wallets in the past 24 hours, reports Whale Statistics† The meme coin is in 4th place. However, the accumulation of 175 billion SHIB was done in just 3 trades by an ETH whale called “Bombur”.

Whale’s interest in buying the meme coin can be seen by looking at the list of top coins bought in different time periods. Shiba Inu comfortably makes the list of top tokens bought in the past 7 and 30 days. In the meantime. the coin has failed to hit the “top 10 coins sold” number in the past 24 hours, meaning whales are waiting for the price to rise.

Source: WhaleStats

Shiba Inu is the second largest coin held by the Ethereum whales, excluding the ETH token. According to the data, top whales own more than $1.4 billion in SHIB tokens, representing 14.3% of total holdings. Meanwhile, the FTX token is still the largest coin held by the ETH portfolios. They own over $1.9 billion worth of FTX tokens.

SHIB price drops by 8%

The global crypto market saw a downward trend on Friday. The market is reacting to the unfavorable decision of the European Union and other concerns about inflation. Shiba Inu has lost all the winnings it recorded yesterday. The coin is down more than 8% in the past 24 hours. SHIB is trading at an average price of $0.000025 at press time.

Disclaimer

The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication is not responsible for your personal financial loss.

About the author

Ashish believes in decentralization and has a keen interest in evolving Blockchain technology, the cryptocurrency ecosystem and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he plays video games, watches a thriller or participates in outdoor sports. Reach me at [email protected]





This post ETH Whale Buys 175 Billion More SHIB Amid Price Drop

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