110 billion Shiba Inu (SHIB) tokens have been bought by an Ethereum whale worth roughly $3.62 million.
Also known as “Gimli”, a fictional warrior character by the author J.R.R. Tolkien, the whale purchased 110B Shiba Inu (SHIB) tokens equivalent to $3.62 million. This whale owns $47.8 million Shina Inu (SHIB) tokens, making this cryptocurrency ranked as the second-largest token on the whale’s purchases.
Gimli is one of the largest holders of ERC-20 tokens, with a total value of $1.6 billion, and his purchase of Shiba Inu (SHIB) made this a tremendous holder of the cryptocurrency. Moreover, looking at the purchases that Gimli made during December 2021, he bought a large volume of 28.2 billion Shiba Inu (SHIB) tokens which were worth $1.1 million on December 3 when the acquisition was made. On the day prior, the whale made another purchase of $2.4 million Shiba Inu (SHIB).
Shiba Inu (SHIB) is considered to be one of the preferred cryptocurrencies of Ethereum whales, presently with a whale holding participation of 14.67%. On the other hand, the second token that makes the most out of Ethereum whale holdings with a 13.37% share is the FTX token (FTX), which is known as the original token of the eponymous cryptocurrency exchange.
Despite all these large purchases by various whales who are present in the cryptocurrency market, Shiba Inu (SHIB) stands still below 61.69% compared to its highest value reach of $0.00008616 which happened last year on the 28th of October.
In light of downturn percentages, Shiba Inu (SHIB) rated as the second-largest meme cryptocurrency was facing a decline of 2.24% in a 24 hour period. Despite the downturns, the whale acquisitions remain unaffected.