Shiba Inu Whale Buys 500 Billion Tokens Worth $10 Million Today During the Dip

Vinod Dsouza
Shiba Inu Whale
Source: Pixabay

An Ethereum whale who goes by the name ‘Trinity’ purchased 500 billion SHIB tokens worth $10.2 million during the dip. The ‘Trinity’ whale is ranked 34 on WhaleStats and purchased SHIB while it was down -10% today. The transaction is one of the biggest purchases in 2022 and WhaleStats was the first to dish out the purchase.

“ETH whale “Trinity” just bought 500,000,000,000 $shib ($10,210,000 USD). Ranked #34 on WhaleStats,” they tweeted along with the transaction link.

Also Read: Shiba Inu to Reduce ‘Gas Fees’ for users after launching its own blockchain

The top 1000 ETH whales have gone all-in on SHIB since July 2021. There’s news about whales purchasing enormous amounts of the meme-token almost every week and are increasing their holdings steadily.

The Trinity whale seems to be hungry for more and is accumulating a large number of tokens during the dip. The whale purchased 4.6 million Matic worth $6.5 million and also brought 5 million Decentraland (MANA) worth $9.5 million. The total transactions in a single day stood at a mind-blowing $28.2 million by the ETH whale.

Also Read: 3 things ‘not to do’ when the crypto market crashes

Whales are on a purchasing spree as several tokens are available at a discount at the moment. Many tokens plummeted to double digits in the day trade and whales are seeing the dip as a buying opportunity.

Bitcoin has reached dangerous lows and is now trading at $33,704. BTC is down -51.8% from its all-time high of $69,044 which it reached on November 10, 2021. Financial analysts including Mike Novogratz predicted that the fall is just the beginning and could slump further in the coming days.

Why is Bitcoin, Shiba Inu and All other Cryptocurrencies Crashing?

The market experienced a bloodbath as $353 million worth of cryptocurrencies were liquated last week. In the span of 24-hours, a total of 183,239 investors got liquidated on January 20. The development made Bitcoin plunge near $38,500 and reached its lowest levels since August 2021. Bitcoin’s fall dragged the entire crypto market down with it and some even dipped drastically to double digits.

The market saw a flash rise yesterday but dipped hours later. Several cryptocurrencies have reached new lows and some also fell close to or more than 50% from ATH. The situation is grim and recovery could take a longer time than expected.

At press time, Bitcoin was trading at $33,680.65 and is down -8.0%. Shiba Inu was trading at $0.00001929 and is down -17.0% in the 24-hours day trade.