Zerion, a blockchain wallet management tool, reports that the whale began acquiring $SHIB when the price of the cryptocurrency dropped from approximately $0.000027 in April 2022 to roughly $0.011.
As of right now, the whale has the biggest token stake in circulation, which is worth about $226 million and consists of over 18.8 trillion tokens. With an average cost of $SHIB of $0.000015, the company stands to lose almost $68.9 million.
The whale’s second biggest holding is the native $ETH token of Ethereum, with a value of around $195 million. It seems to have begun saving $MATIC in June and $LINK in August, according to the data. At now, the whale has two assets that may be liquidated for a gain.
According to a report by Daily Hodl, the whale has amassed enough Shiba Inu ($SHIB) to make it the sixth-largest holder, with a holdings percentage of around 1.88% of the entire circulating supply of the meme-inspired cryptocurrency.
After being listed on one of South Korea’s leading crypto trading platforms by volume, reports indicated that Shiba Inu quickly rose to the top of the “trending” lists on famous crypto aggregator websites.
Before the deployment of its layer-2 scaling solution, the greatest whales on the Ethereum ($ETH) network had accumulated around $85 million of $SHIB.
Also Read: The Cardano Wallet Now Works With Milkomeda
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.