A deep pocket Shiba Inu (shib) investor is acquiring hundreds of billions of SHIB tokens as crypto markets crash.
New data from the WhaleStats whale watching platform reveals that user BlueWhale0073, Ethereum ranked 254th (ETH) whale of the world, purchased 117,883,960,216 SHIBs worth $1,256,643 on April 20.
Moments later, in a separate transaction, the high net worth trader purchased 194,114,774,578 SHIBs, worth $2,069,263, bringing the total amount of SHIB eaten by the whale to 311,998,734,794.
The whale bought the meme asset when it fell around 30% from its 2023 high. The meme asset peaked on February 4, reaching a price of $0.000014. However, the whale was able to pick up the tokens for $0.000011, which is what SHIB is currently trading at the time of writing.
Recent data from Shibburn, a protocol that keeps track of how many SHIB tokens are burned, finds that the meme token burn rate over the past 24 hours has risen by 69.51% at the time of writing this report, since 22,375,349 SHIBs have been discarded in the last day.
According to market intelligence firm IntoTheBlock, only 29% of Shiba Inu keepers are in the green at current prices, while 67% are submarine. On the contrary, the cryptanalysis platform finds than 53% of Dogecoin (DOGE) incumbents are sitting on unrealized gains, while 39% of them are in the red.
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Featured Image: Shutterstock/Voger Design/WindAwake
