Mysterious Ethereum Whale Buys 153 Billion Shiba Inu ($SHIB) Tokens | Cryptoglobe

A mysterious Ethereum ($ETH) whale with over $73 million worth of cryptoassets in its wallet has recently bought a whopping 153 billion Shiba Inu ($SHIB) tokens, bringing its total $SHIB token holdings to 629 billion, worth over $40 million at press time.

The move was first spotted by a Twitter account tracking Shiba Inu developments. It found that the whale, known as “Gimli” invested nearly $11 million in the meme-inspired cryptocurrency as its price dropped over 5% in the last 24-hour period.

The whale’s move came after the popular cryptocurrency exchange Kraken revealed plans to list the meme-inspired cryptocurrency and supporters showed overwhelming support for it. As CryptoGlobe reported, Shiba Inu proponents have also been fighting for a listing on commission-free trading platform Robinhood (NASDAQ: HOOD). 

Through a petition that has over 480,000 signatures titled “Kindly request of Robinhood to list Shiba Inu coin;” they ask the platform to list the cryptocurrency.

SHIB0s price has moved up over 740% in the last three months as retail interest for the cryptocurrency exploded. It started dropping over the last few days and is down 12% so far this week.

Shiba’s price performance has seen it become the third-most Googled cryptocurrency so far this year. An investor who bet $8,000 on it in August of 2020, buying up 70 trillion $SHIB with his initial investment, at one point held over $5.7 billion worth of the cryptocurrency. They have now started moving their funds.

DISCLAIMER

The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.

IMAGE CREDIT

Featured image via Pixabay