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142.6 Billion SHIB Purchased by Investor as Whales' Shiba Balance Falls Below $500 Million

Fri, 05/27/2022 - 09:12
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Yuri Molchan
Large ETH investor has paid substantial sum to buy over 142 billion Shiba Inu, while other whales overall have been selling part of their SHIB stashes
142.6 Billion SHIB Purchased by Investor as Whales' Shiba Balance Falls Below $500 Million
Cover image via stock.adobe.com

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Another big purchase of Shiba Inu tokens has been reported by WhaleStats crypto tracking platform that is focused on wallets based on five top chains: Ethereum, BNB Chain (BSC), Fantom, Avalanch and Polygon.

An owner of a large wallet on Ethereum bought more than 142 billion Shiba Inu 15 hours ago. This is not his biggest recent purchase of SHIB.

Meanwhile, the overall balance of SHIB held by ETH whales has dropped below the $500 million mark.

142.6 billion SHIB added by whale

As per a recent tweet by WhaleStats, an Ethereum investor whose wallet is titled "BlueWhale0073" has again bought a massive amount of SHIB—142,670,797,289 tokens. The amount of USD paid for that chunk of meme crypto was $1,539,417.

Earlier this week, the owner of the "BlueWhale0073" wallet also bought 86,740,251,500 of Shiba canine tokens.

However, currently, SHIB is one of the smallest holdings of this investor; along with other small cap tokens, it comprises 0.78% of the whale's portfolio. The biggest assets held in this wallet are dollar-backed stablecoins USDT and USDC. LINK is the third largest position of this investor.

Whales's SHIB balance drops under $500 million

While some whales continue to buy SHIB on the dip and sell it once the price goes up a little, the amount of wallets holding this token long-term is decreasing.

As per WhaleStats, the overall amount of Shiba Inu held by ETH whales has now dropped below the $500 million mark, now comprising $486,675,304 worth of SHIB. That is slightly less than 11% of the whales' comprised portfolio.

Curiously, the SHIB stash held by the top 100 whales on ETH is bigger than that of the USDT stablecoin; the latter constitutes 10.57% compared to 10.84% of SHIB.

After Terra's UST collapsed below zero recently, and USDT's dollar peg went through slight turbulence, the trust of these investors in this Tether stablecoin seems to have diminished.

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Image by WhaleStats
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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.