MEXCETH Whale Buys 175 Billion More SHIB Amid Price Dip
Shiba Inu (SHIB) recently announced its own Metaverse with different interactive features. This news motivated Ethereum (ETH) whales to accumulate SHIB in bulk transactions. According to Whalestats, the largest of the ETH wallets have added over $4 million worth of 175 billion Shiba Inu tokens in the last 24 hours. It is interesting to note that the world’s 2nd largest meme cryptocurrency is down by 8%.
ETH whales bought the dip
The Ethereum whales have taken benefit of the price dip to add more SHIBs to their tally. This move has sent Shiba Inu to land on the list of top 10 tokens purchased by the ETH wallets in the last 24 hours, reports WhaleStats. The meme coin stands at the 4th spot. However, the accumulation of 175 billion SHIB was done in just 3 transactions by an ETH whale named “Bombur”.
Whale’s interest in buying the meme coin can be seen by looking at the list of top coins purchased in different spans of time. Shiba Inu comfortably makes it to the list of top tokens purchased in the last 7 and 30 days. Meanwhile. the coin hasn’t made it to the tally of “top 10 coins sold” in the last 24 hours, which means that whales are waiting for the price to surge.
Shiba Inu is the second largest coin held by the Ethereum whales excluding the ETH token. As per the data, top whales hold over $1.4 billion worth of SHIB tokens, which makes up 14.3% of the total holdings. Meanwhile, the FTX token is still the biggest coin held by the ETH wallets. They own over $1.9 Billion worth of FTX tokens.
SHIB price down by 8%
The global crypto market saw a downward trend on Friday. The market is reacting to the unfavorable decision coming from European Union and other inflation concerns. Shiba Inu has lost all the gains it registered yesterday, The coin is down by over 8% in the last 24 hours. SHIB is trading at an average price of $0.000025, at the press time.
- Who Will Be the Next Fed Chair? Scott Bessent Confirms Final Five Candidates
- Mt. Gox Delays Repayments to 2026 as Trump-Backed American Bitcoin Adds 1,414 BTC
- Crypto ETFs Attract $1B in Fresh Capital Ahead of Expected Fed Rate Cut This Week
- Breaking: Michael Saylor’s Strategy Adds 390 BTC to Holdings as Bitcoin Surges Past $115k
- Solana, Cardano, Litecoin, Sui ETFs Delay Wipe Out Institutional Interest: CoinShares
- Polymarket Traders Bet Ethereum Price to Hit $5,000 as Bullish Pattern Forms
- Dogecoin Price Prediction As Whales Scoop Over $300 Million- Is A Bull Run Ahead?
- Pi Coin Price Jumps 24% as 10M Tokens Exit Exchanges – Can Bulls Sustain the Momentum?
- Bitcoin Price Prediction If President Trump Announces Deal with China on October 30th- Can BTC Break $125k?
- Analyst Eyes Key Support Retest Before a Rebound for Ethereum Price Amid $93M ETF Outflows and BlackRock Dump
- Bitcoin Price Eyes $120K Ahead of FED’s 98.3% Likelihood to Cut Rates
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
