Ethereum Whales Increase Shiba Inu Purchases As 4th Largest Whale Comes In

SHIB

Buying Shiba Inu tokens by Ethereum whales doesn’t seem to be stopping anytime soon. Over the past week, these whales seem to have made it their mission to collect as much of the meme coin as possible, adding trillions of tokens to their balances over the same period. Recently, the fourth largest Ethereum whale jumped on the bandwagon.

Ham on Shiba Inu go

Another Ethereum whale recently joined the long line of whales that have pitched their tent with the meme coin. This time around, the fourth-largest ethereal whale, as presented by WhaleStats, recently bought some of its digital assets, and some more than a million dollars in coins.

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This whale had purchased more than 51 billion SHIB tokens, reported by WhaleStats, which tracks whale wallet transactions. In total, the 4th largest Ethereum whale, popularly known as Tsunade, had purchased $1,185,696 from Shiba Inu at the time of purchase.

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Tsunade isn’t the only Ethereum whale to increase its Shiba Inu holdings lately. Other whales have followed the same path. The previous day, a whale had bought more than 3.7 trillion SHIB tokens. The value for this was over $89 million spent on the token, one of the largest single transactions ever recorded by the meme coin.

SHIB Profitability

Shiba Inu had earned its fair share of millionaires last year when it emerged as the unlikely breakout star of the year. The cryptocurrency had risen so high and so fast that it had gathered a huge community behind it. This would go on for a while. However, once the downtrend started, it seemed like a long way down until the majority of investors took a loss.

SHIB price continues to trend around $0.00001 | Source: SHIBUSD on TradingView.com

This continues today as more Shiba Inu investors are posting losses than those in profits. According to data from IntoTheBlock, only 35% of all SHIB holders are currently making a profit, presumably those who got into digital ownership early. 58% of all investors are at a loss and only 4% of investors are in neutral territory.

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As for the price of SHIB, it continues to move around the $0.00002 level. There hasn’t been much momentum in digital possession lately, and even massive purchases by whales haven’t done much to push the price up.

Featured image from Coinbase, chart from TradingView.com

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