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Home Crypto News Market 20th-Largest Ethereum Address Just Scoops Over 50 Billion Shiba Inu For $1.24...

20th-Largest Ethereum Address Just Scoops Over 50 Billion Shiba Inu For $1.24 Million Amid Price Dip

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One of the Largest Ethereum Addresses ‘Bombur’ Just Bought Above 52B Shiba Inu.



Popular Ethereum whale Bombur has continued its accumulation spree of Shiba Inu (SHIB), as WhaleStats reports another groundbreaking purchase of the dog-themed cryptocurrency from the user. 

WhaleStats, a crypto data tracking service that monitors the activities in the top 5,000 Ethereum addresses, reports today that Bombur bought a total of 50,520,317,707 for $1.24 million. 

 

Bombur is currently in the number 20th spot in the WhaleStats ranking of the top Ethereum largest addresses. 

The transaction, which took place at around 10:19 UTC, saw the user pay a total of $7 in fees to purchase the Shiba Inu tokens. 

While the development is sensational as it suggests the growing adoption of Shiba Inu, it is worth noting that this is not the first time Bombur will be making a massive purchase of SHIB

Just this month, the popular Shiba Inu whale investor has scooped up over 500 billion SHIB tokens, suggesting the confidence the user has in the dog-themed cryptocurrency. 

Meanwhile, Bombur’s latest purchase came after the price of the cryptocurrency was dealt a massive blow in the early hours of today, as crypto traders prepare for the publication of the firms’ Q1 2022 earnings report this week. 

According to Coingecko, Shiba Inu reached a high of $0.00002601 before slumping to a low of $0.00002388. At the time of writing, the cryptocurrency is changing hands at around $0.00002443, down 6% for the day.

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The content is for informational purposes only and may include the author’s personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

Mark Brennanhttps://thecryptobasic.com/
Mark Brennan has been active in the cryptocurrency sector since 2014. His love and passion for the nascent industry drove him to develop interest in writing about important developments and updates about cryptocurrencies and blockchain. Brennan, who holds a Masters degree in Business Administration, learned about the potential of blockchain technology. Aside from crypto journalism, Brennan runs an education center, where he educates people about the asset class.

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