As reported by WhaleStats crypto wallet tracer, over the past few days, the amount of Shiba Inu held by the top 100 whales on Ethereum has shrunk substantially, losing around $7 million.
This amount of USD can buy one a whopping 628 billion SHIB canine coins at the present exchange rate. In the meantime, Shiba Inu has merged on the list of the top 10 assets with the biggest trading volume.
Whales dumping over half billion SHIB
The WhaleStats team has shared that over the past few days, the supply of Shiba Inu meme tokens held by the 100 biggest investors on the Ethereum chain has dropped by roughly $7 million, going down from $134 million to a total of $126,805,312 at the time of this writing. This constitutes 5.12% of their portfolios.
The sale of was made gradually as the second largest meme coin was gradually going down in price, leaving behind the $0.00001119 level on Friday, Oct. 7.
On Oct. 11, SHIB plunged more than 6% within an hour, printing a massive red candle on charts.
Thus, the whales managed to lock in their gains before the price went down abruptly.
Elon Musk starts selling his perfume for meme crypto
As reported by U.Today earlier, CEO of Tesla and SpaceX and centibillionaire Elon Musk announced the launch of his first perfume made by The Boring Company, which builds tunnels underground to relieve regular roads of heavy traffic in the USA.
The perfume has been extravagantly titled "Burnt Hair," and Elon Musk has changed his bio section in Twitter to a single line, "Perfume Salesman." Already today, more than 10,000 bottles of it, worth $104 each, have been sold. Musk admitted that his getting into the perfume business was just a matter of time, and he should not have waited for that long.
The Tesla boss commented on Twitter that the perfume can be bought for DOGE. Besides, the payments page shows that this is not the only crypto option available. Since this is being done via BitPay, SHIB, Bitcoin and other digital currencies are also accepted. They will be converted into fiat, and The Boring Company will get USD.
One user tagged Musk in a tweet, complaining that he was unable to perform a transaction with Dogecoin to buy the "Burnt Hair" of Elon Musk.
The @inevitable360, who is a Dogecoin developer, tweeted that he has faced what might be an error in this payment option.
Hey @elonmusk and @boringcompany— ineveetable360 (@inevitable360) October 12, 2022
I tested to pay using #Doge. But its really confusing and @BitPay does not say anything what to do after payment. It seams you have to click on "Pay in wallet" after payment, does not make sense, it should detect the payment and redirect 😅 pic.twitter.com/N0EzfAj5t6
The SHIB price has not been affected by this major news, and neither was that of DOGE, as it rose by merely 0.38%, per CoinMarketCap.