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A crypto whale bought $136 million worth of altcoin Shiba Inu (SHIB), sending the dog-themed meme coin soaring by over 16% in just a single day.
According to the Whale Stats website—which tracks big value crypto purchases—the crypto whale purchased approximately 4 trillion SHIB tokens, with a value of about $136 million at the time.
SHIB opened the day with a price of $0.00003238, and, at the time of writing, is valued at $0.00003765, up 16% on the day.
Following their big buy, the unnamed crypto whale’s portfolio is now 25% SHIB. Elsewhere in their portfolio, the whale has purchased $88 million worth of Decentraland (MANA) tokens, and $42 million worth of the Tether stablecoin.
MANA is the second biggest asset in the whale’s portfolio, making up nearly 16% of the entire portfolio itself.
Shiba Inu’s recent history
Today’s price surge is just the latest in a long line of recent booms for SHIB. Late last month, SHIB burst up by over 30% after crypto exchange Kraken listed the meme cryptocurrency. Kraken was also not the only exchange to list SHIB in November—Gemini and Binance did too. In the same month, SHIB saw an 18% price increase after the project registered a record 1 million holders.
In October, SHIB rose by nearly 400% in just one week on its way to becoming the 12th largest cryptocurrency by market cap. At the time, SHIB actually flipped Dogecoin as the world’s leading meme cryptocurrency by market cap, though it’s since slipped back below Dogecoin in the rankings.
The SHIB whale who bought today is a relative minnow, however, compared to one who moved almost $3 billion of the meme cryptocurrency in November.
(Article Courtesy of Decrypt)