Massive whale accumulation of Shiba Inu continues.
An Ethereum whale, who goes by the pseudonym “Bombur”, has once again taken advantage of the recent market dip to bolster his Shiba Inu (SHIB) holding.
WhaleStats, a cryptocurrency data platform that tracks the activities of the top 5,000 whales in the market, noted that Bombur bought more than 53.78 billion units of SHIB worth around $1.07 million at the time of the purchase.
The transaction, which took place a few hours ago saw the Ethereum whale pay a meager fee of $8 to complete the transaction.
Following the recent purchase, Bombur now holds a whopping 1.06 trillion Shiba Inu coins valued at around $21.3 million, at the time of writing.
“ETH whale “Bombur” just bought 53,788,394,748 $SHIB ($1,076,305 USD). Ranked #74 on WhaleStats,” the cryptocurrency data platform tweeted.
🐳 ETH whale "Bombur" just bought 53,788,394,748 $shib ($1,076,305 USD).
Ranked #74 on WhaleStats: https://t.co/3ADbDHvWPW
— WhaleStats – BabyWhale ($BBW) (@WhaleStats) May 6, 2022
Bombur’s SHIB Accumulation Spree
The recent development marks Bombur’s commitment to accumulate the second-biggest memecoin by market capitalization. Bombur has not slowed down in increasing his position in Shiba Inu as it is gradually becoming a weekly routine for him.
It is worth noting that Bombur is ranked as the 74-largest Ethereum whale and has constantly purchased Shiba Inu at will.
Toward the end of last month, Bombur bought 50.8 billion SHIB, 207 billion SHIB, as well as 50.9 billion Shiba Inu at different intervals.
The Ethereum whale usually embarks on an accumulation spree for the 15th-largest cryptocurrency by market capitalization whenever there is a price dip.
Whales Buying Shiba Inu Dip
As reported, the cryptocurrency market suffered a huge correction yesterday that saw over 8% of the total market valuation evaporate.
Cryptocurrencies in the top 100 rankings, including Shiba Inu, were not spared. Shiba Inu dropped to a low of $0.00001966 earlier today as a result of the dip, prompting whales to capitalize on the massive correction.
However, the token is back above $0.00002000 in the hour leading to press time.