ETH 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.