Whale increases Shiba Inu position as token trades at a significant discount
An anonymous Ethereum whale that currently holds over $100 million worth of Shiba Inu tokens has purchased an additional 47 billion SHIB tokens and has become one of the largest holders among investors in the token, reports WhaleStats.
According to the transaction page, a whale made a large purchase five hours before press time and is now holding $116 million worth of SHIB. In addition to Shiba Inu, the 15th place wallet holds $600 million worth of different tokens related to Adidas, Twitter and YouTube.
Fifteen percent of the whale’s portfolio consists of “Other Tokens” valued at $186 million and made up of positions such as Matic, Ethereum, SAND and others.
The largest position of the whale is Adidas Metaverse, which is now valued at $500 million approximately. His or her wallet performance is currently in an uptrend, with its value increasing from $610 million to $1.1 billion in a matter of days.
The performance of Shiba Inu in the market
As the cryptocurrency market dips deeper, smaller altcoins like Shiba Inu are showing more or less adequate movement in the market with no significant declines noticed in the last 10 days.
Before another correction on the cryptocurrency market, Shiba Inu has faced an unexpected 50% price increase, while other cryptocurrencies were trying to survive the bloodbath on both financial and digital assets markets caused by the global risk-off.
At press time, Shiba Inu is trading at $0.000027, with a price increase of 6.7% in the last 24 hours. The local bottom of the meme-token currently sits at $0.00002, which is seen as a strong support zone for the asset.
