ETH Whale Adds 312 Billion Shiba Inu Tokens Amid Price Dip

The global crypto market dropped by more than 3.30% over the past 24 hours. However, the top meme tokens also took a hit. Meanwhile, the biggest of the Ethereum (ETH) whales has taken the opportunity to ‘buy the dip’.

Whale on Shiba Inu buying spree?

According to Whalestats, an ETH whale named ‘BlueWhale0113’ bought more than 321.28 billion Shiba Inu (SHIB) in a single transaction. This transaction cost around $3.72 million to the whale.

As we dig in, the whale wallet is still holding $2.49 million worth of SHIB tokens at the moment. It makes around 7.45% of its total holding. Meanwhile, Polygon (MATIC) is the biggest token held by the whale. It makes up around 11.49% of the total holding.

Shina Inu’s price has dropped by more than 4% in the last 24 hours. SHIB is trading at an average price of $0.000012, at the press time. It is still the second largest meme token with a market cap of over $6.6 billion.

WhaleStats reported that the biggest of the 500 ETH whales are holding more than $652 million worth of Shiba Inu tokens. However, SHIB is the biggest token held by the top 100 Ethereum whales. They are holding over $510 million worth of Shiba Inu.

Meme token 24 trading vol up by 60%

Coin98 Insight reported that the cumulative meme token’s 24 hour trading volume breached the $1.2 billion mark. Shiba Inu recorded around $872 million over the total training volume. As per Coinmarketcap, SHIB registered a surge of over 40% in its 24 hour trading volume.

However, the biggest meme token Dogecoin (DOGE) recorded a 24 hour trading volume of $394 million among all. Meanwhile, DOGE’s price has dropped by more than 4.30% in the last 24 hours. Dogecoin is trading at an average price of $0.0686, at the press time.

In the meantime, the cumulative market cap of meme tokens has dropped by around 5% over the past 24 hours. It now stands at $16.18 billion. Meanwhile, the 24 hours trading volume is up by a whopping 60%.

Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at [email protected]

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