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Another Whale bought 175 billion SHIB on the dip

According to data published by the WhaleStats on-chain data platform, a whale known as “Bombur” has spent nearly $4.4 million on 175.2 billion Shiba Inu meme tokens during the past 17 hours.

This occurred as SHIB, the second largest meme cryptocurrency, dropped roughly 11% of its value in the previous 24 hours, but has since partially recovered some of that loss.

Bombur is the name of one of the dwarfs that traveled to the Lonely Mountain with Thorin Oakenshield and Bilbo Baggins in J.R.R. Tolkien’s epic fantasy masterpiece, The Hobbit “The Lord of the Rings. I’ve been there and back.”

The owner of this wallet made three SHIB purchases and transferred tokens to his address: 0x2ee555c9006a9dc4674f01e0d4dfc58e013708f0, according to WhaleStats.

These transactions carried 57,871,907,885; 58,807,087,673 and 58,624,985,970 Shiba Inu worth a comprised $4,553,868.

However, “Bombur” has already sold the majority of the SHIB tokens he purchased. Whales (the top 100 wallets for which WhaleStats collects transaction data) frequently speculate on hot altcoins like Shiba Inu and ApeCoin. The whale’s current holdings are primarily tokens from firms such as McDonald’s, ADIDAS, and Pornhub.

WhaleStats had previously spotted regular SHIB purchases from a wallet named after a Tolkien character—the dwarf “Gimli,” one of the main protagonists in the “Lord of the Rings” book series.

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