Shiba Inu (SHIB) recently announced some of its upcoming projects and updates with the aim to strengthen its ecosystem. Reacting to the declaration, Ethereum (ETH) whales have gone on a heavy accumulation of the SHIB tokens.
Gimli buys $11 mln worth of Shiba Inu
According to the Whalestats, an ETH whale wallet named “Gimli” went on a huge buying spree. It added 1 trillion Shiba Inu tokens in multiple transactions over the past 24 hours. The whole accumulation worthed around $11.34 million.
As per the data, the biggest transaction recorded by “Gimli” has been of buying 250 billion SHIB tokens. This purchase cost him around $2.86 million.
This move has landed the Shiba Inu token on the tally of the top 10 tokens used among the biggest 2000 Ethereum whales by trading volume in the last 24 hours. However, this accumulation hasn’t helped the SHIB token’s price to move by much.
SHIB has recorded a price jump of over 2% over the past 24 hours. The world’s second largest meme cryptocurrency is trading at an average price of $0.000011, at the press time. It is still down by 87% from its all time high of $0.00008845. Meanwhile, SHIB prices have registered an increase of 14% in the last 7 days.
Gimle boasts its holdings
This suggests that ETH whales are capitalizing on the price dip opportunity for a while as the global crypto market looks to settle down from the recent collapse. However, the SHIB token has been a top choice of the biggest Ethereum Wallets for a long time. Top 100 whales are now holding around $567.8 million worth of Shiba Inu tokens.
As we dig in, the “Gimli” whale wallet shows that it is now holding around $4.31 million worth of SHIB tokens. This suggests that it sold some of its holdings over the past few hours.
However, the whale is holding Chainlink (LINK), Enjin Coin (ENJ), Decentraland (MANA), and Fantom (FTM) tokens in its wallet.
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