Main navigation

SHIB Posts Modest Price Gains as Ethereum Whales Load up on 534 Billion SHIB

Wed, 07/27/2022 - 10:30
article image
Tomiwabold Olajide
Ethereum whales stockpile 534 billion SHIB, prompting modest increase in SHIB price
SHIB Posts Modest Price Gains as Ethereum Whales Load up on 534 Billion SHIB
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

According to CoinMarketCap data, Shiba Inu was posting modest gains in line with the latest crypto market relief rally. At the time of publication, SHIB was trading at $0.00001080, up 3.32% in the last 24 hours. The crypto market faced selling pressure at the week's start as investors were swayed by macroeconomic concerns.

WhaleStats reports that two Ethereum whales have loaded up nearly 534 billion SHIB in recent hours. This was done in three massive transactions.

The Ethereum whale "Gimli," ranked 248th according to WhaleStats, bought 187,000,000,000 SHIB worth $1,991,550 in one swoop.

Earlier, top whale "Gimli" acquired 199,999,999,999 SHIB worth $2,075,999, which was also reported by WhaleStats.

The Ethereum whale "Gimli" mostly bets on SHIB, as a peek into his wallet (address) reveals Shiba Inu as his biggest holding. "Gimli" currently holds 391 billion SHIB in his wallet, valued at $4,312,591.

In recent hours, the top ETH whale, "BlueWhale0159," ranked 373rd according to WhaleStats, also grabbed a whopping 147,000,000,000 SHIB worth $1,556,730.

Shopping.io in talks with Shiba Inu team

Shopping.io, an e-commerce website that allows users to shop and pay for goods with cryptocurrencies on major retailers such as Amazon, Walmart, eBay and Etsy, seems to be in talks with Shiba Inu. The details of the discussion remained unknown at press time.

Indications regarding this surfaced when Milkshake, a Shiba Inu-focused Twitter account, tweeted on July 26 about a meeting with Shopping.io. The e-commerce website likewise shared this tweet as a seeming confirmation.

In follow-up tweets, Arbel Arif, CEO of Shopping.io, commented, "Big things coming to Shibtoken + shopping_io" in response to Milkshake's tweet, explaining to a crypto user the essence of the meeting.

Interestingly, SHIB is among the tokens supported by Shopping.io., which leaves the question of what the nature of the upcoming partnership might be.

article image
About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.