An Ethereum whale bought a large amount of Shib

An anonymous whale from the Ethereum network, which held more than $100 million worth of shiba inu tokens, bought additional SHIB units. Thus, it has become one of the largest holders of these tokens, reports WhaleStats.

The whale made such a large purchase that it now owns SHIB worth $116 million. His wallet also contains various tokens worth $ 600 million related to Adidas, Twitter, and YouTube.

15% of the whale’s wallet consists of “other tokens” worth $186 million. It is about such assets as Matic, ether or SAND.

This player also owns tokens related to the “Adidas Metaverse,” which are currently valued at about $ 500 million. Interestingly, the value of his portfolio has recently increased – from about $ 610 million to $ 1.1 billion. This happened within a few days.

One can get the impression that the investor is taking advantage of the current market discount on the market. Smaller altcoins, such as Shiba Inu, have been depreciating heavily lately. 1 SHIB costs $0.00002376 today. This is 22% less per week and 13% less than a day earlier.

Before the next correction in the cryptocurrency market, shiba inu began to grow strongly. In a short time, it gained as much as 50% of its value. Now, however, it is again approaching pre-correction levels.

At the beginning of this year, the team behind Shiba Inu announced the starting of Doggy DAO’s first phase, DAO 1. (Beta). However, it intends to keep the token’s decentralisation intact while increasing the token’s value.

Read Also: Cryptocurrency investors in Russia may face restrictions

Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.

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