A Twitter account dedicated to Shiba Inu news has spread the word that an Ethereum whale with a wallet named after a Lord of the Rings dwarf—"Gimli"—has added a staggering amount of SHIB to his/her wallet.
Over $10 million worth of SHIB bought
A whale who holds 2,405 Ethers has added a mind-blowing 153,048,520,476 SHIB tokens to his wallet, 0x203520f4ec42ea39b03f62b20e20cf17db5fdfa7. That amount of crypto is worth $10,982,761 at the current Shiba Inu exchange rate, while the coin is trading in the dip and is worth $0.00006953.
— Shiba Inu News (@ShibalnuNews) November 2, 2021
The last time a whale bought such an enormous amount of Shiba Inu meme tokens was a month ago; a rally began that pushed the coin over 300% within a single week.
Whales become increasingly interested in Shiba Inu
As reported by U.Today previously, several large crypto holders, known as whales, have become interested in the second-largest meme crypto and have been buying large lumps of it.
The largest stashes of SHIB were bought approximately a month ago. Back then, a whale first grabbed six trillion SHIB and then, two days later, added 276 billion SHIB to that in three transactions that were pulled off within just several hours of each other.
On Oct. 15, more whales bought SHIB. Several massive transactions were noticed, carrying an overall sum of almost 75 million SHIB, when the coin was in the red after losing $600 million of its market capitalization value.
Aside from that, another 28 billion SHIB were purchased by anon whales as the coin traded on a $0.000046 low.
SHIB token spikes to an ATH
Five days ago, Shiba Inu surged to a new all-time high, hitting $0.00008845. Since then, the coin has been declining.
It has dropped to the current level of $0.000069 with a market cap value of $38,177,835,677. However, it remains the holder of ninth place on CoinMarketCap, while Dogecoin, its major rival, is sitting in 10th place with a market cap of $35,951,491,724.