An ETH Whale Now Acquires $228 Million Shiba Inu (SHIB) As It Gains 50%

Key Points:

• Ethereum – ETH whale has acquired almost $228 million worth of SHIB, ranking him as the 6th wallet holding SHIB.
• The whale, whose identity is still unknown, has given SHIB 75% of his total portfolio.

One of the world’s largest ETH whales is stockpiling Dogecoin (DOGE) competitor Shiba Inu (SHIB) in enormous quantities.

The enormous Ethereum whale has acquired almost $228 million worth of SHIB, according to blockchain tracking firm WhaleStats, and presently has more than 18 trillion tokens.

By eliminating the ETH component, the whale, whose identity is still unknown, has given SHIB 75% of his total portfolio as of this writing.

According to CoinMarketCap, the aforementioned whale holds the sixth-largest stake in SHIB, accounting for 1.88% of the coin’s total supply.

Other prominent tokens in the wallets of wealthy investors are Ethereum scaling solution Polygon (MATIC) and decentralized oracle service Chainlink (LINK).

According to WhaleStats data, other Ethereum whales appear to be following suit by aggressively allocating to SHIB. According to Whalestats, SHIB is presently the largest holding among the top 1,000 Ethereum whales, excluding stablecoins and ETH itself.

SHIB has started the year on a high note, rising nearly 50% year to date to $0.00001206 at the time of writing.

The price movement and whale buildup occur as the ecosystem prepares for the introduction of Shibarium, a projected layer-2 solution that intends to provide scalability among other benefits.

Bone ShibaSwap (BONE), the token that will be used to purchase gas on Shibarium, has also seen gains since the beginning of the year. BONE is now up 60% year to date, trading at $1.40 at the time of writing.

Shibarium was teased earlier this month by Shiba Inu creators, but no particular release date has been established.

Previously, Coincu reported that the world’s greatest Ethereum (ETH) whales’ Shiba Inu (SHIB) holdings have increased by hundreds of millions of dollars in less than a week.

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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