A prominent Ethereum whale has purchased a staggering amount of Shiba Inu (SHIB) tokens.
According to WhaleStats, a crypto whale tracking service, the Ethereum whale tagged “BlueWhale0068” purchased a whopping 91,956,507,830 (91.95 billion) Shiba Inu tokens worth $1,162,330 ($1.16 million).
🐋 ETH whale "BlueWhale0068" just bought 91,956,507,830 $shib ($1,162,330 USD).
Ranked #193 on WhaleStats: https://t.co/3kLZPUdlYP
Transaction: https://t.co/Bcp870NBXL#SHIB #ShibArmy
— WhaleStats (tracking crypto whales) (@WhaleStats) February 27, 2023
Following the recent purchase, Shiba Inu has become the biggest holding by dollar position for the prominent Ethereum whale. Per the data, BlueWhale0068 now holds a total of $14,144,675 ($14.14M) worth of Shiba Inu tokens at the time of writing this line.
WhaleStats revealed that BlueWhale0068 is among the prominent whales on the Ethereum network. The whale, which sits in the 119th position in the WhaleStats Leaderboard, holds a total crypto value of $23.14 million. Aside from Shiba Inu, the Ethereum whale holds other ERC-20 tokens, including $3.69 million worth of Verasity (VRA).
Growing Adoption of SHIB Among Whales
The development suggests a growing adoption of Shiba Inu tokens among whale investors as the cryptocurrency edges closer to the debut of its highly-anticipated Layer-2 network, Shibarium.
Different cryptocurrency data providers, including WhaleStats, have continued to indicate significant whale interest in SHIB. As reported by TheCryptoBasic on February 17, a pseudonymous whale bought over 117 billion units of SHIB ($1.53 billion) in a single transaction.
These investors are taking advantage of Shiba Inu’s low price, accumulating the crypto asset for a discount. It bears mentioning that Shiba Inu is down 5% over the past seven days following a broader market sell-off.
While the asset class is currently changing hands at around $0.00001280, the price is still a discount for investors buying now compared to people who bought when the price was above $0.00001350.
Whales’ interest in Shiba Inu has spiked tremendously ahead of Shibarium Beta’s debut. The team behind the L2 network has reiterated that the public beta network will soon be deployed and has continued to make significant progress toward achieving this feat.
Earlier today, Shiba Inu’s lead developer Shytoshi Kusama launched a new portal dedicated to the widespread adoption of Shibarium. According to Kusama, the portal will be a hub for developers, content creators, job seekers, and business owners.