The massive price dip of Shiba Inu (SHIB), has given whale traders the perfect opportunity to increase their holdings in the asset class.
With SHIB trading around $0.00002080, whale investors have spotted the perfect entry opportunity and are not slowing down in the accumulation of the popular dog-themed cryptocurrency.
Fresh data posted today by WhaleStats, a cryptocurrency analytics data platform that tracks the activities of the top 5,000 Ethereum wallets, shows that BlueWhale0073 has increased her Shiba Inu holdings as the price of the cryptocurrency dips.
According to WhaleStats, BlueWhale0073 bought a whopping 300,997,019,465 (appr. 301 billion) Shiba Inu worth $6.1 million.
The transaction, which took place earlier today, saw the recently purchased coins moved from an unknown address to BlueWhale0073, with the owner of the wallet paying a meager fee of $9 in Ethereum (ETH).
🐋🐋 ETH whale "BlueWhale0073" just bought 300,997,019,465 $shib ($6,149,369 USD).
Ranked #257 on WhaleStats: https://t.co/RBupemZyZX
— WhaleStats – BabyWhale ($BBW) (@WhaleStats) May 3, 2022
BlueWhale0073 Shiba Inu Transactions
BlueWhale0073 is currently ranked 257 in the WhaleStats’ top Ethereum address rankings and the user has embarked on a series of purchases for the second-biggest memecoin since last month.
As reported, BlueWhale0073 bought over 500 billion Shiba Inu in April alone and the address owner only purchases the 15th-largest cryptocurrency whenever there is a price dip.
BlueWhale0073 is not known to be a long-term holder of Shiba Inu, as the address is only seen buying SHIB whenever the price is low and sells following a surge in the token’s value.
At the time of writing, BlueWhale0073 holds a total of 403,241,854.56 SHIB (appr. 403.2 billion) worth around $8.43 million.
Shiba Inu Down 3.4% In 24 Hours
Like other cryptocurrencies, Shiba Inu has also suffered a slight dip in the last 24 hours, as the token shredded 3.4% in the hours leading up to press time.
Shiba Inu, which rose to a 24-hour high of $0.00002159, is currently trading around $0.00002083, according to data on Coingecko.