Main navigation

Investors Grab 372.4 Billion SHIB as It Flips FTT for Biggest Whale Holding in USD

News
Tue, 05/10/2022 - 08:46
article image
Yuri Molchan
Two large Ethereum whales have acquired close to 400 billion SHIB, while number of SHIB holders has risen significantly in May
Investors Grab 372.4 Billion SHIB as It Flips FTT for Biggest Whale Holding in USD
Cover image via stock.adobe.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Read U.TODAY on
Google News
Contents

While the second largest token, Shiba Inu, is dropping in price, some whales are taking this opportunity to buy on a massive dip in order to sell their meme coins later at a profit, according to WhaleStats data.

In the meantime, SHIB is back on the position of the largest asset by USD value, pushing another popular coin from this privileged position.

Whales acquire 372.4 billion SHIB tokens

WhaleStats crypto tracking service, which follows the top 100 wallets on Ethereum, BNB and several other popular chains has tweeted that two large whales, who have been acquiring Shiba Inu quite often recently, have acquired two other massive SHIB lumps.

"BlueWhale0073" has bought a whopping 311,816,880,855 tokens worth $4,801,979. "Bombur" added 60,606,002,938 SHIB to his wallet after paying $1,004,847 for that sum of crypto.

The SHIB stash held in the "Bombur" wallet now totals $23,148,380 worth of the meme token. "BlueWhale0073" has either sold the SHIB he had bought or transferred it to another wallet.

Among other tokens bought by top crypto whales earlier today is $1,665,199 worth of SAND and wrapped Bitcoin (WBTC) worth a total of $18,991,739.

On May 9, "Bombur" also bought a large amount of SHIB, totaling 56,946,679,217. On May 9, his overall SHIB stash constituted 1.14 trillion coins.

Related
If Bitcoin Breaks Well Below $30,000, Crash Under $10,000 May Follow: Peter Schiff

SHIB recovers as biggest holding, its number of holders soars

WhaleStats has also shared that Shiba Inu has managed to regain the position of the largest holding in USD equivalent held by the largest whales on the Ethereum chain.

The second biggest canine coin has pushed FTX Token from this position after it lost this place to FTT earlier today.

Besides, the number of wallets holding SHIB has demonstrated a significant increase in May, rising by more than 7,000.

article image
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.