The Whale That Bought 20 Trillion Shiba Inu Is Now The 5th Largest SHIB Holder

While SHIB saw a slight increase in prices yesterday, the Shiba Inu community saw the rise of a new large SHIB holder. Investors added $176,800,000 worth of Shiba Inu Tokens, etherscan data shows,

On-chain data showed that whales accumulated 5 trillion SHIB tokens in four consecutive equivalent transactions.

SHIB records 5th major investment

The newly emerged whale scooped up 20 trillion SHIB tokens worth $176.80 million about 14 hours ago. The transfer has made SHIB Investor the fifth largest holder, according to Etherscan data.

Related Reading: Dogecoin, Shiba Inu Whales Move Huge Amounts, Dumping Underway?

Another notable thing about the transactions is that they happened almost simultaneously. This new SHIB investor’s portfolio holds 2% of the Shiba Inu supply.

Whale accumulates 20 billion SHIB | Source: Etherscan

Although the accumulation of whales has not had any significant positive impact on the price of the digital asset. Meme Coin gained 1.17% in the last day but is still showing a downtrend of 0.56% on the 7-day chart.

Regardless of the price of SHIB Started a slight uptrend on May 14, closed at $0.00000883 against an opening of $0.00000878, reversed May 16 closed at $0.00000880 against an opening price of $0.00000884.

Upcoming advances in the Shiba Inu ecosystem

Lucie Sasnikova, a member of the Shiba Inu marketing team, recently shared Update on the SHIB Metaverse Project, In his tweet, Luce said that the developer behind SHIB: The Metaverse Project will reveal a preview of the Hub by September. Notably, four new hubs will be unveiled, namely; Vagmi, Rocket Pond, Ryoshi and Tech Trench.

SHIB Metaverse advisor, Marcy Jastrow, also answered questions about the project, noting that users can access the Metaverse via PC, mobile phone and virtual reality (VR).

Another interesting development is that recently the Web3 shopping platform, UQUID Shiba Inu Integrated payment options in its services.

This integration will add real-world utilities to Shiba Inu, allowing SHIB holders to use their coins for multiple purposes including airtime top-up, online shopping and more.

The Shiba Inu team is also collaborating with Tangem, a blockchain tech firm, to roll out a cold wallet specifically for the Shiba Inu community.

According to Report, Users can visit the official website of Tanzum and preview the features of the wallet and pre-order the complete SHIB-themed wallet. lucy too Highlighted features of the wallet In a tweet, noting that it supports over 6,000 currencies.

The SHIB marketing executive said that the wallet will provide users with seamless access to DeFi, NFTs, and decentralized exchange platforms. Additionally, the hardware wallet is wireless, portable and does not require a battery.

Despite registering a slight price increase yesterday, the coin has lost most of its gains over the past week. At press time, SHIB is down 2.4% over the past seven days and 13.2% over the past 14 days.

Featured Image from Pexels, Chart from TradingView