131 Billion Shiba Inu Coin Scooped By The Whale; Is This Shibarium Effect?

Shiba Inu Coin News: The cumulative meme tokens’ cap took a major hit as the biggest crypto like Bitcoin (BTC) and Ethereum (ETH) prices dropped by around 3% over the past 7 days. However, the crypto whales successfully grabbed the buy the dip opportunity to add billions of Shiba Inu Coins.

Are Whales After Shiba Inu?

As per the data provided by the Whalestats, an Ethereum (ETH) whale address tagged as “BlueWhales0073” accumulated 131.4 billion Shiba Inu Coin (approx worth $1.48 million) in a single scoop.

This massive accumulation came in when Shiba Inu price registered a drop of 10% over the past 7 days. SHIB is trading at an average price of $0.000011, at the press time. Its 24 hour trading volume is down by a massive 51% to stand at $143.4 million.

As we dig in, Shiba Inu is the largest token held by the dollar value among the largest 100 ETH whales. They are cumulatively holding $601 million worth of SHIB tokens. It makes up 11.94% of their total holdings.

Shiba Inu coin has landed on the tally of the top 10 tokens purchased by the biggest whales in the last 24 hours. While it also made it to the list of most used contracts by the top 100 ETH whales. However, its 24 hour burn rate has registered a decline of around 4%. Around 31.5 million SHIB tokens were sent to the dead wallet.