Ethereum Whale Buys 4 Trillion Shiba Inu Crypto Coins, Increases SHIB Value By 10% In 24 Hours

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An Ethereum whale claimed 4 trillion SHIB tokens in a single transaction worth $ 134 million (around Rs 1,012 crore), which caused Shiba Inu to increase in value by 10% over the course of the last 24 hours. The entire crypto market has seen a strong rally over the past 24 hours with the valuations of the most popular crypto coins skyrocketing, but the massive SHIB transaction by one particular whale saw the percentage of The increase in the value of Shiba Inu eclipsing that of Bitcoin and Ether.

According to a tweet from WhaleStats which is a tracker that closely monitors the wallets held by the richest 1000 Ethereum whales, Shiba Inu is the “most traded and largest token hodling among the top 1000 ETH wallets” at the moment. . That said, this isn’t the first time that Shiba Inu has proven to be the dominant choice for whales in major Ethereum wallets.

Meanwhile, the wallet held by the whale that decided to buy 4 trillion SHIB tokens, now holds over $ 144 million (roughly Rs 1,087.89 crore) of Shiba Inu tokens, which represents 26 % of portfolio holdings in Ethereum. tokens. Popular Metaverse Tokens – The Sandbox and GALA, which account for an additional $ 122 million (approx Rs 921.52 crore) out of the total wallet value of $ 500 million (approx. 3,776.34 crore) held in tokens based on Ethereum, with the rest scattered among Tether stable coins and altcoins like MATIC, Enjin, and Loopring.

Just over a week ago, Shiba Inu reclaimed the top position in dollar value among the top 1000 Ethereum wallets. This happened after rival Dogecoin fell to third place due to back-to-back price drops. But the ever-increasing accumulation of whales has ensured a steady increase. Since then, SHIB has maintained its status, currently sitting at a 7.71 percent concentration with a valuation of over $ 1 billion (approximately Rs. 7,554.85 crore).

Shiba Inu is on the way to become a market leader, with its establishment in the commercial industry, in collaboration with eminent players in the industry. This year, SHIB has teamed up with giants like AMC, which is the largest movie theater chain in the United States, which now facilitates Shiba Inu payments. Along with AMC, electronic retail giant Newegg recently took to Twitter to officially announce the acceptance of SHIB payments for its products.

At the time of writing, Shiba Inu is currently the 13th largest coin and trades at $ 0.00003553 (around Rs. 0.0027) at the time of publication. SHIB experienced tremendous growth in 2021, up 6,339,207.6% from its all-time low on November 28 last year.

Interested in cryptocurrency? We discuss all things crypto with WazirX CEO Nischal Shetty and WeekendInvesting Founder Alok Jain on Orbital, the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcasts.

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