17 Billion Shiba Inu Grabbed by Whales as SHIB Utility Keeps Growing

Despite the SHIB price being stagnant at the moment, cryptocurrency whales continue to buy massive amounts of this meme coin. In the meantime, more and more wallets are getting connected to the Shibarium testnet to make transactions on it.

Whales grab 17 billion SHIB

Data obtained via Etherscan shows that less than an hour ago, two SHIB investors bought a massive amount of Shiba Inu in two transfers. One of them purchased 10,817,157,076 SHIB, and the other bought 6,782,260,080 meme coins.

These chunks of Shiba Inu were bought while the price of the asset has lost slightly under 2% over the past 24 hours. At the time of this writing, SHIB is changing hands at $0.00001092, according to CoinMarketCap.

Overall, the largest 100 whales on the Ethereum chain are currently holding slightly more than $601.2 million worth of SHIB in total, making it nearly 12% of their comprised portfolio. On average, each of these wallets contains 496,214,650,935 SHIB worth slightly more than $6 million.

Earlier this week, as reported by U.Today, an anonymous wallet moved a staggering 3,484,812,794,902 SHIB tokens to another unknown address. This amount of Shiba Inu was evaluated at $40,284,435 USD at the time the purchase was made.

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Shibarium wallet count explodes to 14 million

In the meantime, the Puppynet beta of Shibarium (one of many to come, according to mysterious SHIB lead Shytoshi Kusama) keeps rising. By now, it has come really close to crossing the milestone of 14 million addresses linked to Shibarium.

Within 24 hours, this amount has grown by nearly one million addresses.

The transaction count has also surged, hitting over 4.2 million in total by now.