Ethereum Whales Buy 386 Billion SHIB Despite Falling Price

Ethereum whales added billions of new SHIB tokens to their accounts during the downtrend. The famous whale known as Gimli added 386 billion Shiba Inu to their account earlier this week.

Ethereum Whales are accumulating SHIB

Despite Shiba Inu losing 90% of its value in the bear market, the cryptocurrency continues to be the focus of attention of Ethereum whales.

Gimli, one of the 10 richest Ethereum whales, continues to increase the amount of SHIB tokens in their account with the downtrend. According to WhaleStats, which tracks uploaded accounts, two whales bought a total of 533 billion tokens ($3.5 million).

Gimli alone took 386 billion tokens while another whale named BlueWhale0159 added 147 billion tokens.

SHIB also remains the most collected altcoin by the wealthiest Ethereum investors. It could be a foray into the Metaverse. Shiba Inu developers shared progress on their metaverse and GameFi projects last week. Accordingly, some explanations may be made known in the coming days for the game, which is under the leadership of game designer William Volk.

Whales hold other tokens too – FTX Token (FTT), Decentraland (MANA) and Polygon (MATIC) alongside SHIB Coin.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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