160 billion SHIB was purchased by this investor, using an 8% drop in Shiba Inu quotations

CryptEye reports that on the previous day, an unidentified whale bought 160.4 billion Shiba Inu (SHIB) for the equivalent of $2 million. The purchase was made at a period when Shiba Inu prices were sharply falling due to reports of the United States’s poor inflation, which had an impact on all financial markets.

Shiba Inu Whale Spends $2 Million on SHIB, Taking Advantage of 8% Drop

This wallet has received 200.6 billion SHIB, or $2.5 million, in the last seven days alone. Shiba Inu tokens totaling 14.6 trillion SHIB, or $180 million, are stored in this wallet. As a result, it is probable that the wallet is either connected to the project or a member of its crew, or it is a hot wallet for a cryptocurrency exchange.

Another cryptocurrency portal, WhaleStats, reveals that substantial Ethereum holders are still holding a lot of SHIB at the same time. So, according to recent data, 2,000 of the biggest Ethereum whales already own Shiba Inu coins valued at $160 million.

These organizations possess the most SHIBs even though they do not represent the majority of Shiba Inu owners, whose number just reached a new record high of 2.1 million addresses.


SHIB/USD 4-hour chart | Source: TradingView

Shiba Inu’s price dropped yesterday along with the rest of the cryptocurrency market, as one could anticipate. SHIB quotations were now down more than 8% from their day’s highs. SHIB was able to recoup some of the declines at the start of today. Shiba Inu is now trading at $0.0000122, which is essentially unchanged from its price movement in previous months.

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