ETH Whale Just Purchased $89 Million Worth Of SHIB

An ETH Whale just purchased $89 million worth of SHIB which is just short of 4 trillion SHIB and represents over 30% of the portfolio as we are reading more today in our latest altcoin news.

Shiba Inu has long been one of the most popular memecoins on the market and has attracted the interest of retailers from all across the world. It seems that the ETH whale just purchased $89 million worth of the coin and the data from the resource tracking transactions recorded a huge whale buying a huge chunk of sHIB. The address in question is ranked at 216 in terms of total assets and bought a whopping 3.7 trillion of crypto and it is worth around $89 million.

Looking at the whale’s overall asset distribution reveals that his portfolio consists of 31.39% SHIB and 59.62% ETH and the rest is spread among other coins like USDT and Chainlink. At the time of writing, the price failed to react positively and traded fiat on the day. It is worth noting that the hype behind what was the crypto that shocked the world, seems to be fading across the board. The Shiba Inu NFTs or Shiboshis are also down about 70% since their ATH.

Shiba Inu NFTs, shib, token, price, amc

As recently reported, One of the most hyped drops that took place last year was Shiboshis, a Shiba Inu NFT which dropped over 70% since its all-time high and this was the official NFT for the SHBI Team as one of the most popular memecoins. The reports showed that in early 2021, the Shiboshis is a collection of 10,000 non-fungible tokens and depicted lovable creatures. The sale happened in November 2021 and each NFT was minted at a different price from 0.1 ETH to 0.3 ETH.

At the time of writing, the floor price of the collection sits at 0.65 ETH which is a good return. However, it is interesting to note that the current rate is over 70% below the ATH of the average sale price which was seen back on November 6th. Back at that time, the average price that Shiboshis were selling for was 2.5 ETH as per the data from OpenSea.

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Author: Stefan