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SHIB Whale That Already Holds $1.2 Billion Worth of Tokens Buys Even More

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Tue, 12/14/2021 - 11:11
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Arman Shirinyan
One of the biggest Shiba Inu whales has bought even more holdings in addition to the existing $1.2 billion
SHIB Whale That Already Holds $1.2 Billion Worth of Tokens Buys Even More
Cover image via stock.adobe.com

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Shiba Inu holders and long-term investors do not seem to be bothered by the token's performance and decided to purchase even more coins than they were previously holding. This wallet just added $5 million worth of SHIB to its existing $1.2 billion positions.

Largest Shiba whale buys more

The average order execution price for the "light" whale is staying at approximately $0.00032. The large purchase has not changed the current market conditions, and the token is consciously moving in the rangebound with almost no volatility.

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Currently, the "light" whale holds approximately $3.4 billion worth of tokens. While the held amount is considered more than significant, its value has dropped by more than 90% since November. In addition to Shiba Inu, the whale holds the less popular "American Born Doge" token and CRO worth $1.4 billion and $400 million, respectively.

Shiba gained its position back

With the majority of the market continuously going down, more tokens and coins are losing their value while Shiba Inu moves in a relatively stable manner. According to WhaleStats data, current Shiba Inu holdings remain at $1.59 billion with a slight 0.2% change compared to the previous day.

Whale Holdings
Source: WhaleStats

The majority of Shiba's whale-tier holdings are being concentrated in only one wallet. The same wallet that bought $4 million Shib today holds $1.2 billion out of the $1.59 billion in whale hands.

Light Wallet
Source: WhaleStats

While whales are buying the memetoken, its price does not seem to react in any way with the average volatility for the asset staying at approximately 5%, while being close to 15% previously. The point of Shib's maximum volatility has been seen when the token reached its ATH with more than a 70% spike in one day.

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About the author

Arman Shirinyan is a trader, crypto enthusiast and SMM expert with more than four years of experience.

Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future. Currently, he focuses on news, articles with deep analysis of crypto projects and technical analysis of cryptocurrency trading pairs.