Fri. Jul 1st, 2022

The high-ranking Ethereum wallet owner has purchased close to half a billion Shiba Inu (SHIB) tokens, adding to his meme cryptocurrency holdings. Crypto tracker WhaleStats has reported that one of the largest Ethereum whales has bought a massive amount of Shiba Inu, doubling its stash of this canine token to a whopping one billion SHIB.

Top-ranked whale buys $11 million in SHIB

According to the recent tweet published by WhaleStats, one of the top 5 cryptocurrency investors with a wallet named after a character from JRR Tolkien’s iconic novel, “The Lord of the Rings”, the dwarf Gimli. This whale, who stores most of his wallet on Ethereum, made a single transaction to buy a staggering amount of Shiba Inu. He has purchased 442,637,867,858 SHIB, comprising $11,561,701. According to the website of this wallet, “Gimli” now has a staggering trillion SHIB worth $38,184,560. As for the other Gimli cryptocurrencies, this whale mainly owns tokens related to the metaverse: TESLA, TIKTOK, McDonald’s, Windows, Walmart, as well as Twitter DAO, SWIFT, DAO, etc. Overall, the top 100 Ethereum whales hold SHIB to the tune of 17.42% of their portfolio, constituting $1,558,453,796 in fiat equivalent. Shiba Inu ranks second as the token with the highest value in US dollars after the FTX token (FTT).

New SHIB whale emerges with 442.6 billion tokens

On Wednesday, it was reported that a cryptocurrency investor bought an astounding 442,637,867,858 SHIB and turned it into a new SHIB whale. This sum in the second largest canine cryptocurrency is equal to $11,969,061.

Another similar case was covered in early February, when an investor bought 3,457,477,154,937 SHIB in a single purchase, becoming a new whale. He paid $115,998,358 for that amount of cryptocurrency. At the time of writing, the 14th ranked cryptocurrency Shiba Inu is changing hands at the $0.00002552 level, showing a slight decline of 4.11%. However, looking at the weekly price statistics, it has increased by 20.64%.

By Farwa Raza

Farwa Raza is a writer who specializes in news articles. She has been writing on for over one years, and during that time she has written over 100+ articles on various topics ranging from politics to entertainment. Her goal as an author is to provide readers with the latest news stories while also providing her own opinion on them.