- An Ethereum whale was found ingesting 442.6 Billion Shiba Inu tokens equalling $11.9 Million in a sole transaction.
- A tracing service found the transaction initially and posted it on Twitter, pointing out that ETH whale became the acquirer of Shiba Inu.
- As this article was been written, Meme coin Shiba Inu was trading at a market price of $0.00002413, down by 2.9% in previous 24 hours.
Ethereum Whale Into Shiba Waters
As per the recent wallet data, an Ethereum whale has gone after well-liked meme coin Shiba Inu, acquiring 442.6 Billion tokens by spending $11.9 Million in a single transaction, before mobilizing the fund into a greater wallet.
The transaction initially caught the eye of tracing facility WhaleStats which indicated that the transaction confirmed Ethereum Whale entering into Shiba waters for the initial time.
Blockchain transactions indicate that funds were later mobilized to a wallet with more than $100 million in assets.
At present, the wallet holds approximately $47 million worth of meme coins, where Shiba Inu has the majority of stake in there. After Shib, the whale’s wallet holds $21 Million MANA, followed by FTM, SAND, and ETH.
The whale also holds prominent amounts of KNC, SUSHI, ENJ, and CHZ alongside dozens of altcoins. As per the data by monitoring service, top 100 affluent whales have entered the Shiba territory, escalating their Shiba Inu balance by 2.216 Billion, a 259% increase.
Shiba On Scorching Grounds
These whale transactions came as strategies to burn Shiba Inu via several initiatives has been escalating. Bigger Entertainment CEO Steven Cooper has confirmed in a Twitter post that the organization is eyeing to back the SHIB community in burny its 10% of supply.
Bigger Entertainment is among the 9 businesses that have pledged to utilize elements of their profits to burn Shiba Inu. As of now, 59% of SHIB’s initial supply was circulating as 410.29 trillion of the digital assets has been burnt since its inception.
AS of this writing, meme-inspired cryptocurrency was trading at a market value of $0.00002413, bearish by 2.9% in past 24 hours.