Gimli Whale Gives Shiba Inu A Miss, Buys Matic Worth $1.2 Million Instead

Vinod Dsouza
Gimli whale buys 697,232 Matic coins worth $1.2 million

The most popular whale in the top 1000 ETH rich list ‘Gimli’ purchased 697,232 Matic coins worth $1.2 million. The Gimli whale is mostly fond of Shiba Inu but gave the meme-token a miss this time despite the dip. Gimli holds $44.1 million Shiba Inu tokens at present.

Gimli now holds a whopping 5.2 million Matic coins worth a staggering $1.2 million. The whale’s portfolio now holds 48% in Ethereum, 16% Shiba Inu, 9% Hi and 7% MANA. However, Gimli’s portfolio consists of Matic which makes 3.67% of the overall holdings. The second least being FTM with 3.42% and the least being ENJ at 1.52% of the overall portfolio.

WhaleStats was the first to dish out the transaction and tweeted, “ETH whale “Gimli” just bought 697,232 $matic ($1,289,879 USD). Ranked #143 on WhaleStats.”

It’s been quite sometime since whales took an entry position in Matic and the recent dip opened the windows of opportunity. Matic performed well up until May 2021 but remained stagnant the rest of the year. Its price didn’t move upwards drastically during the second half of 2021 and mostly traded sideways.

The coin has been hovering between $1.50 to $1.90 close to seven months now and testing the patience of investors. The upward jump seems to be unlikely as the crypto market is dipped as a whole.

Gimli is in the news regularly for buying bag loads of SHIB and is always hungry for more. It’s only a matter of time before we write another article about Gimli buying millions of dollars worth SHIB again.

In addition, Gimli seems to be addicted to Shiba Inu and is bitten by the financial SHIB love bug. Their financial love-affair is unending and Gimli isn’t satisfied with SHIB no matter how many times he/she buys it.

Matic Price Prediction

The market dip has been harsh on Matic during the second half of 2021 making the price to remain stagnant. The coin is unable to left above its weight and deliver returns to investors. Even a positive upswing is seen as a bull trap and investors are cautious pouring their money on the token.

A sudden spike in Matic that would deliver short term gains is off the charts at the moment. We advise investors to stay away from Matic for short term gains and only go into it for the long term.

At the time of publishing, Matic was trading at $1.81 and is down -7.39% in the 24-hours day trade.