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November 29, 2022
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Huge Ethereum Whale adds 72 billion Shiba Inu ($SHIB) to its portfolio

One of the largest Ethereum whales, with nearly $300 million in assets, recently added 72 billion SHIB tokens, worth just over $2.5 million

The movement was first detected by the WhaleStats whale monitoring feature, which pointed that the transaction came from an Ethereum wallet, whose owner is not known for being the Ethereum whale, it has the code name “Tsunade”.

According to data from etherscan, the whale currently has over $70 million in SHIB tokens and $64 million in Ethereum and USDT from Tether. His other big appearances include Decentraland ($MANA), Smooth Love Potion ($SLP), The Sandbox ($SAND) dYdX ($DYDX), as well as a host of other tokens.

In total, the whale has well over 300 Altcoins in his wallet.

Source: EtherScan

Another Ethereum whale known as “Gimli” has also been accumulating Shiba Inu in recent weeks. As reported by CryptoGlobe, Gimli continued to accumulate SHIB in multi-million dollar transactions to get close to $100 million meme-inspired cryptocurrency in your wallet.

The data showed that the whale deals helped fuel Shiba Inu’s price rise this year. According to cryptocurrency analysis company Santiment, SHIB transactions that exceed $100,000 generally increased before the cryptocurrency price increases. Notably, whales may be accumulating even more cryptocurrency before these increases.

The meme-inspired cryptocurrency, however, has seen its number of holders explode in recent months, to the point where the number of addresses on the Ethereum blockchain holding SHIB surpassing the one million mark at the end of last month. WhaleStats data shows that the number of incumbents continues to grow.

Michael Burry, the most profitable investor best known for his lucrative bet against the housing bubble before the 2008 financial crisis was immortalized in the book and movie “The Big Short”. revealed that he is not a fan of Shiba Inu after the cryptocurrency rose 340% in just 30 days.

In a now-deleted tweet, the head of Scion Asset Management shared the description of Coinbase’s cryptocurrency and highlighted its supply, which exceeds a quadrillion tokens saying it’s “useless”.

Source: cryptoglobe

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