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475 Billion SHIB Scooped up by Whales as ETH Merge Promises Positive Effects for SHIB

Tue, 09/06/2022 - 15:15
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Yuri Molchan
Top whales on Ethereum have grabbed nearly 500 billion SHIB, expecting largely positive effects of Merge on SHIB
475 Billion SHIB Scooped up by Whales as ETH Merge Promises Positive Effects for SHIB
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WhaleStats on-chain wallet tracker that collects data on several blockchain platforms has reported that over the past 24 hours, the 1,000 largest investor wallets on Ethereum chain had purchased a staggering amount of Shiba that was close to half a trillion SHIB.

In the meantime, some in the SHIB army are expecting the upcoming Ethereum Merge to have positive effects for SHIB.

$6 million worth of SHIB added to wallets

In a recent tweet, WhaleStats reported that since Monday, the top Ethereum whales have purchased $6 million in SHIB, which equals 475,435,816,164 SHIB at the current SHIB/USD exchange rate.

On Monday, these whales held over $147 million in these canine coins. Recently, WhaleStats reported that these wallets contained $153,202,373 worth of Shiba Inu.

Here's Who Is Buying LUNC Instead of SHIB and Why, David Gokhshtein Explains

"The Merge will affect SHIB"

Twitter user Lucie Sasinkova has tweeted that the approaching Ethereum upgrade, Merge, is going to have a big positive effect on SHIB and Shibarium Layer 2 solution after it is launched. SHIB runs on Ethereum, and Shibarium will be launched on this blockchain too.

She expects SHIB to get faster transfers and low fees, which could become the basis for mass adoption of SHIB.

Merge is to take place on Sept. 15. Today, another crucial event is taking place on Ethereum - Bellatrix hard fork, which will prepare the blockchain for Merge.

Co-founder of Ethereum Vitalik Buterin reminded the community about today's hard fork and reminded that all stakers should update their clients.

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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