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175 Billion SHIB Bought by Another "Tolkien Whale" on the Dip: Report

Fri, 04/01/2022 - 08:39
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Yuri Molchan
Owner of major Ethereum wallet "Bombur" has acquired over 175 billion Shiba Inu as the token plunges 10.8%
175 Billion SHIB Bought by Another "Tolkien Whale" on the Dip: Report
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Data shared by the WhaleStats on-chain data platform shows that over the past 17 hours, a whale who goes by "Bombur" has purchased a comprised 175.2 billion Shiba Inu meme tokens, paying roughly $4.4 million for them.

This happened as the second largest meme cryptocurrency, SHIB, lost around 11% of its price in the past 24 hours but has partly regained some of this loss by now.

Whale grabs 175.2 billion SHIB

Bombur is the name of one of the dwarfs who went along with Thorin Oakenshield and Bilbo Baggins to the Lonely Mountain in the iconic fantasy novel by J.R.R. Tolkien, "The Hobbit. There and Back Again."

WhaleStats reported that the owner of this wallet made three purchases of SHIB and transferred tokens to his address: 0x2ee555c9006a9dc4674f01e0d4dfc58e013708f0.

These transactions carried 57,871,907,885; 58,807,087,673 and 58,624,985,970 Shiba Inu worth a comprised $4,553,868.

By now, however, "Bombur" has sold the majority of the SHIB tokens he had bought. Whales (the top 100 wallets whose transaction data WhaleStats is focused on) often speculate on trendy altcoins, such as Shiba Inu and ApeCoin. The whale's portfolio now consists mainly of tokens related to companies like McDonald's, ADIDAS and Pornhub.

Earlier, WhaleStats detected frequent transactions buying SHIB from another wallet named for a Tolkien character—dwarf "Gimli," one of the key characters from the "Lord of the Rings" book trilogy.

On March 30, "Gimli" purchased a total of 421,370,420,624 SHIB in two big transfers, paying $11,313,795 in total.

Related
Shiba Inu, Dogecoin, Cardano Slump as Bitcoin Drops to $44K

SHIB plunges 11%

Meanwhile, Shiba Inu, a Dogecoin rival, has declined 10.83% since yesterday morning. Since midday March 29, the meme coin price has declined by almost 16%, falling from $0.00002967 to $0.00002493. This followed the slump of Bitcoin to the $44,000 level.

SHIBdrops16%_00
Image via TradingView

By now, however, the SHIB price has managed to partly recover some of this loss. At press time, the token is changing hands at $0.00002554 on the Binance exchange.

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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.