Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
As the launch of Shibarium is expected this week, some whales keep stocking up on Shiba Inu tokens. WhaleStats wallet tracker has reported that an owner of a top Ethereum wallet has acquired a big chunk of SHIB over the past 24 hours.
In the meantime, the SHIB price has lost 10% and "added" another zero, falling back to the November low.
126 billion Shiba Inu purchased by large whale
A whale under the alias "BlueWhale0073" acquired a total of 126,120,815,899 Shiba Inu, paying $1,363,366 for the purchase. By now, the value of this SHIB lump has declined to $1,241,028.
The transaction took place roughly 16 hours ago. On March 7, this whale also grabbed 200,000,000,000 SHIB, as covered by U.Today.
🐳 ETH whale "BlueWhale0073" just bought 126,120,815,899 $shib ($1,363,366 USD).
— WhaleStats (tracking crypto whales) (@WhaleStats) March 9, 2023
Ranked #254 on WhaleStats: https://t.co/RBupemZyZX
Transaction: https://t.co/ct2QValjFc#SHIB #ShibArmy
However, according to the personal page of this wallet on WhaleStats, at the time of writing, the whale holds zero Shiba Inu, having sold it.
Currently, overall, the 100 biggest wallets on Ethereum are holding $601,204,724 in Shiba Inu. This constitutes slightly less than 12% of their combined portfolio.
SHIB price plummets deep
Over the past 24 hours, Shiba Inu has dropped by more than 10%, hitting a low last seen at the start of November - $0.00000986. Thus, the popular meme coin has "regained" one more zero, adding it to its price.
The massive decline of SHIB, along with the whole crypto market, is following the harsh drop of flagship crypto Bitcoin. BTC has gone below the $20,000 level driven by several factors, including the proposed U.S. tax on electricity, a sell-off on the equities market, Silvergate's bankruptcy and a few others.
Bitcoin itself has dropped by slightly more than 9%, hitting a low last seen in January this year.
Shibarium launch to happen this week
The Shiba Inu community is looking forward to the release of the Shibarium beta, which has been promised to finally happen this week. The announcement came from the official SHIB Twitter handle.
Lead developer Shytoshi Kusama warned users not to go to any websites that pretend to represent Shibarium and not to connect wallets to them.
As reported by U.Today earlier this week, several Twitter accounts have emerged that impersonate Shytoshi and offer links to fake Shibarium sites. A prominent SHIB-enthusiastic account that stands behind the creation and launch of the SHIB VIP Social Network has had all its Shiba Inu stolen after mistaking a fake website for a real one and linking its wallet.
Gamza Khanzadaev
Alex Dovbnya
