Whales continue to take advantage of the price drop to grow their wallets. Despite the poor performance of the altcoin market, Ethereum whales have not stopped buying dog-themed coins.
Altcoin whales are stockpiling this altcoin at the bottom
In a commendable development, a popular Ethereum whale alias BlueWhale0073 has bought over 147.8 billion Shiba Inu. In the details of the transaction, he paid $1.56 million a few hours ago to purchase a sizable amount of Shiba. Interestingly, despite the large amount paid for the Shiba, the purchase only amounted to a $2 transaction fee. The development was shared by WhaleStats, a crypto data provider that tracks the activities of the 5,000 largest Ethereum whales.
WhaleStats, daytime “ETH whale “BlueWhale0073” just bought a Shiba Inu (SHIB) for $1,562,733,” he tweeted. According to the whale tracker, BlueWhale0073 currently ranks as the 312th largest Ethereum whale. It is worth noting that
BlueWhale0073 SHIB accumulation
BlueWhale0073 is among the largest whales participating in the Shiba Inu’s massive accumulation. Whale takes advantage of price drops to raise its capital.
Shiba Inu token burns are increasing exponentially
At the time of writing, SHIB has risen slightly in the last 24 hours to trade around $0.00001075. The cryptocurrency has lost 68.2% from last year to date (YTD), prompting members of the Shiba Inu community to look for ways to increase the value of the token.
One of the community efforts to increase the value of the Shiba Inu, ongoing It is the official token burn program. As Kriptokoin.com, we have discussed some details in this article.
Since the initiative launched this year, trillions of SHIBs have been burned, hoping the community will bring the price of the cryptocurrency back to its old days. Despite burning over 410 trillion units of Shiba Inu from the circulating supply, the community is still interested in burning more tokens. In a recent development, over 508.8 million SHIBs were burned in 15 transactions in the last 24 hours, bringing the total number of tokens burned to 410.3 trillion.
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