Another 57 billion Shiba Inu coins bought after SHIB drops below $0.000017

Paigambar Mohan Raj
whale shiba inu
Source: Unsplash

According to the latest data provided by Whalestats, an Ethereum whale, popularly known as “Bombur“, has purchased nearly 57 billion Shiba Inu coins (56,946,679,217 to be exact), bringing its SHIB holdings to an awesome 1.14 billion. The purchase was for a huge $1.07 million USD.

Although the purchase was big, “Bombur” was quick to sell the tokens as well. As visible in the charts provided by Whalestats, the biggest outgoing token from the whales’ wallets was also Shiba Inu.

Source: Whalestats

SHIB is quite popular among Ethereum Whales. Recently “Bombur” along with fellow ETH Whale, “BlueWhale007”, made Shiba Inu purchases worth a whopping $2.2 million dollars. “Bombur” obtained 53,788,394,748 SHIB, while “BlueWhale0073” acquired 74,318,320,742.

According to Whalestats, Ethereum whales currently hold SHIB worth just under a billion US dollars, dropping from the previous amount of $1.2 billion USD.

Shiba Inu latest developments

Shiba Inu is without a doubt one of the most popular cryptocurrencies out there. It is the second biggest dog coin by market cap, only behind Dogecoin, the original meme, and dog coin.

SHIB L2 layer, Shibarium, is rumored to release sometime in May or June this year. This secondary layer is aimed at substantially reducing SHIB’s transaction fees. The release of Shibarium will most probably drive the token’s popularity even further.

Additionally, Shytoshi Kusama, lead developer at Shiba Inu, has revealed that the “internet-breaking” development which was announced in January, is happening before our eyes, but was taking place in “slow-motion”. We are yet to know more about what this means. For now, Kusama is the only person who could shed more light on its meaning.

SHIB has one of the largest fan bases in crypto, and the Shib Army has never failed to shower support to their favorite coin. SHIB has constantly been one of the most talked-about cryptos on social media.

Shiba Inu, regardless of its popularity, was not spared by the recent market bloodbath. At press time, SHIB was trading at $0.00001671, down by -11.8% on the daily charts, and a whopping -22.7% on the 7-day charts. The token has slipped to number #17 on CoinGecko.