ETH Whale “Gimli” Scoops 407 Bln Shiba Inu; Price Jumps By 7%

Shiba Inu (SHIB) is emerging as the favorite token among the biggest of the Ethereum (ETH) whales. The move has also helped the SHIB token to post some green indexes.

Whales add 527 bln Shiba Inu tokens

According to the Whalestats, the ETH whales have bought 527.5 billion SHIB tokens in multiple transactions over the last 24 hours. This accumulation cost whales around $5.96 million.

Ethereum whale “Gimli” purchased another 407.5 billion Shiba Inu tokens in a single transaction. This accumulation was valued at around $4.59 million. However, the same wallet added over 533 billion (worth approx $5.6 million) SHIB on July 28, 2022.

As we dig in, data depicts that “Gimli” now holds around $4.3 million worth of Shiba Inu tokens. This makes up around 19.6% of its total holdings. The wallet sold $1.98 million worth of SHIB tokens yesterday.

However, Whalestats reported that an ETH whale named “BlueWhale0159″ also bought 120 billion SHIB tokens. This transaction was valued at around $1.36 million. The same whale scooped over 147 billion SHIB tokens (worth approx $1.55 million).

As per the data, “BlueWhale0159” has dumped all Shiba Inu holdings. The wallet holds $22.8 million worth of USDC tokens. This signals that the ETH whale is ready to accumulate.

Eth whales on buying spree?

The top 100 ETH whales are now holding $503 million worth of Shiba Inu tokens. This makes up around 19.8% of its total holdings. However, the top 5000 ETH whales hold over $646.9 million worth of SHIB tokens.

The whale tracker mentioned that Shiba Inu landed on the list of top 10 trading tokens by volume and top 10 most purchased tokens among the 500 biggest ETH Whales over the last 24 hours. However, it has also made it to the list of most used smart contracts among the biggest 1000 ETH whales at the same time.

Shiba Inu prices have surged by over 7% in the last 24 hours. SHIB is trading at an average price of $0.000011, at the press time. Its 24 hour trading volume has jumped 75% to stand at $536.9 million.