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Ethereum Whale Bags Up $3.6 Million Worth of Shiba Inu

According to WhaleStats, an Ethereum whale known as “Gimli” has purchased an extra 110 billion Shiba Inu tokens valued $3.62 million at the time of purchase.

The whale, named after a fictional dwarf warrior created by author J. R. R. Tolkien, currently owns $47.8 million in SHIB tokens, his second-largest holding.

Gimli is one of the largest holders of ERC-20 tokens, with a total value of $1.6 billion.

This is the mega-first whale’s SHIB buy of the year. On December 3, “Gimli” purchased 28.2 billion SHIB tokens, which were worth $1.1 million at the time. On December 2, another $2.4 million Shiba Inu was purchased.

Shiba Inu is still the Ethereum whale’s favorite, accounting for 14.67 percent of their total holdings. With a 13.37 percent share, the FTX token (FTX), the native token of the eponymous cryptocurrency exchange, is in second position.

Despite this, the cryptocurrency is still down 61.69 percent from its all-time high of $0.00008616 set on October 28.

The second-largest meme coin has dropped 2.24 percent in the last 24 hours, extending its downward trend. However, the most recent purchase demonstrates that whales are unfazed by their sluggish performance, as they continue to buy the dip.

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