An Ethereum whale with over $800 million in various cryptocurrencies on its wallet has been accumulating Shiba Inu ($SHIB), so much so it now has over 1-67 trillion tokens of the meme-inspired cryptocurrency in its wallet.
As first reported by Insider, the Ethereum whale has purchased close to $1.8 million worth of the cryptocurrency over the last few days to add an additional 50 billion tokens to its stash. The transaction was first spotted by WhaleStats, which reports on activity rom the largest 1,000 wallets on the Ethereum network.
The wallet, dubbed Jiraiya, has been making other large bets on SHIB over the Binance Smart Chain as well, recently scooping up over 100 billion tokens for $3.5 million. Its wallet, according to Etherscan data, shows the whale is holding over 200 different assets.
Its largest holding is notably not Shiba Inu, but instead the Bitpanda Ecosystem Token (BEST), as the whale has over $350 million worth of the cryptocurrency. Its next largest holding is Ethereum, of which the whale has over $180 million.
Next comes the Pantos Token (PAN), the native token of Pantos. Pantos is an open-source research project founded by the team behind the Bitpanda exchange. It aims to “establish an open standard for truly decentralized cross-blockchain token transfers and blockchain interoperability.”
Other large holdings in the whale’s wallet include chilliZ (CHZ). Chainlink (LINK), Decentraland (MANA), and Polygon (MATIC). Jiraiya is notably one of several Ethereum whales that have recently been found to be accumulating large amounts of SHIB.
As reported one of the largest Ethereum whale wallets with nearly $300 million in assets recently added 72 billion SHIB tokens, worth just over $2.5 million, to its portfolio. The meme-inspired cryptocurrency is the whale’s largest holding.
As CryptoGlobe reported another well-known whale, Gimli, has been also accumulating SHIB. Gimli added SHIB in transactions worth millions of dollars to get close to $100 million worth of the meme-inspired cryptocurrency in its wallet.
Data has shown that whale transactions have helped fuel Shiba Inu’s price rise this year. According to cryptocurrency analytics firm Santiment, SHIB transactions exceeding $100,000 have generally surged ahead of cryptocurrency price rises. Notably, whales may be accumulating even more of the cryptocurrency ahead of these rises.
DISCLAIMER
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.
IMAGE CREDIT
Featured image via Pixabay
