Shiba Inu (SHIB) prices have been under tremendous selling pressure over the past week. However, this price action has encouraged the biggest Ethereum (ETH) whales to collect more SHIB tokens.

ETH whales on Shiba Inu shopping spree?

According to Whale Stats, Two ETH whales purses bought more than 533 billion Shiba Inu tokens in the last 24 hours. This cumulative purchase amounted to $5.6 million. This move helped the SHIB token land in the top 10 purchases of the largest 100 ETH whales in the past day.

ETH whale wallet called “Gimli” single-handedly added 386 billion Shiba Inu in two transactions. The purchase cost the whale about $4.06 million. However, the whale bought about 200 billion SHIB tokens (worth about $2,075 million) in the largest trades.

According to the data, another ETH whale called “BlueWhale0159” has taken in 147 billion (worth about $1.55 million) in a single transaction.

As we dig, the data shows that Shiba Inu is still the largest token held by the top 100 ETH whales by dollar value. The largest of the whales has about $540 million worth of SHIB tokens. This makes up about 21.23% of their total assets. However, Decentraland (MANA) is the whales’ most widely used token.

The whale tracker reported that the top 2000 ETH whales own more than $633.9 million worth of Shiba Inu tokens.

SHIB price increases by 3%

It is important to note that the whales are accumulating more and more Shiba Inu tokens amid the recent price drop. While the SHIBarmy is actively burning the meme token. Shibburn reported that more than 26.7 million SHIB tokens have been burned in the past 24 hours.

Shiba Inu prices are up more than 3% in the last 24 hours. SHIB is trading at an average price of $0.000011 at press time. However, it is still trading 87% lower than its all-time high (ATH) of $0.000088. Meanwhile, SHIB’s 24-hour trading volume is down 18% to $309.7 million.

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’s not writing, he plays video games, watches a thriller, or works out outside. Reach me at [email protected]

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 the publication is not responsible for your personal financial loss.

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