According to the data provided by Whalestats, on the 20th of March, an Ethereum Whale made an astronomical purchase of 3.7 trillion SHIB tokens, worth $89 million dollars! The whale was ranked 216 on Whalestats.
Ethereum whales, as seen previously as well, seem to love SHIB. Similarly in the past, ETH whales have been known to splurge on Shiba Inu. On the 14th of March, an ETH whale purchased 49.6 million SHIB tokens worth over a million dollars.
Why are whales investing in Shiba Inu?
Shiba Inu is without a doubt, one of the most popular tokens out there. The coin has seen multiple listings and collaborations this year. The popularity of SHIB is definitely one of the many reasons why big investors have their eye on the project.
The investors on the Whalestats list had a total of 53,906,847,868,416 shares at the time of writing. That’s $1,284,199,751 in today’s money. After FTT, SHIB is second on the list of these whales’ top ten crypto holdings, and hence third after Ethereum.
John Richmond recently revealed the very first Shiba Inu NFT, which is one of the 10,000 that will be displayed during the Milan Fashion Week 2022. The event is scheduled to take place in September of 2022. There is also an after party for SHIB holders after the fashion show.
Shiba Inu has also seen some small-scale adoption with businesses accepting SHIB as a form of payment. AMC has also begun accepting SHIB for movie tickets.
Turkish ambulance service, Vita Plus, has also announced that they will accept Shiba Inu as a legal form of payment. Developers of SHIB were in Turkey meeting with officials, which sparked rumors about SHIB being accepted as a legal tender in the country. But no such announcement has been made, as of yet.
Although it was one of the most successful coins of the 2021 bull run, Shiba Inu has not been able to see a significant jump in its price as of yet. It is still far from recovering to it’s all time high, which it reached during last year’s run. The coin is currently 7.7% up on the 7 day chart.
At the time of publication, SHIB was trading at $0.00002317.