Crypto whales are investors who own significant amounts of a cryptocurrency. Given that Ethereum (ETH -2.94 percent) is the second-largest cryptocurrency by market capitalization, it’s not unexpected that there are a lot of Ethereum (ETH -2.94 percent) whales. What’s more unexpected is that Ethereum’s whales are investing in another coin. Several of Ethereum’s top 1,000 holders have started buying Shiba Inus (SHIB -1.79 percent) and their interest in Shiba only seems to continue to increase.
Shiba Inu recently became the biggest holding of the top 500 ETH whales. The coin managed to flip the FTX token (FTT) to attain the top spot. And now it is reported that a Top Ethereum Whale has gobbled up another 142.67 Billion Shiba Inu (SHIB), worth $1.53 Million in Past 24 Hours.
It is reported that the biggest ETH Whale currently ranked 293 on WhaleStats named “BlueWhale0073” exchanged another $1,539,417 ($1.53M) to buy 142,670,797,289 (142.67B) of Shiba Inu tokens through one significant transaction.
In less than 72 hours, the whale has made its second notable transaction. It previously purchased 86,740,251,500 (86.74B) SHIB for $1,015,728 ($1.015M) in a single transaction on May 24th (Tuesday). So far this week, BlueWhale0073 has amassed a massive $2,555,145 ($2.55M) in two distinct trades, totaling 229,411,048,789 (229.41B).
What Is Shiba Inu Coin and Why Is It So Popular?
SHIB is the “DOGECOIN KILLER,” according to the SHIBA INU website, and is listed on their own ShibaSwap, a DEX. Shiba Inu currency was established under the pseudonym “Ryoshi” in August 2020. Ryoshi admits that he is a nobody and unimportant, and that revealing his true identity, even if successful, would be a disappointment. The adorable charm of the coin, combined with articles and tweets from celebrities like Elon Musk and Vitalik Buterin, drew in a community of investors, quickly increasing its speed and value.
SHIB was the most viewed crypto in 2021, beating the likes of Bitcoin and even Ethereum, as announced by cryptocurrency price-tracking website CoinMarketCap. According to CoinMarketCap, the Dogecoin spinoff recorded more than 188 million views during the last 12 months, while apex cryptocurrency Bitcoin came in second with 145 million views in 2021.
The Memecoin continues to gain interest as its also launching its metaverse, with 100,595 plots of virtual lands. In the case of the Shiba Inu metaverse, some virtual lands will remain open to all in the metaverse. These lands will represent roads (corridors): Avenues, Boulevards, and Hubs, however, other lands will be available for purchase.