An Ethereum Whale, Gimli, Acquires 1 Trillion SHIB

Shiba Inu has announced that it is coming up with new projects and updates. The aim of the new projects and updates is to strengthen its entire ecosystem. Ethereum whales have thus embarked on an accumulation spree of SHIB tokens.

Gimli Purchases SHIB Worth $11 Million

The Whalestats reported that the Ethereum whale wallet with the name Gimli bought a lot of tokens. The wallet secured up to 1 trillion SHIB tokens in many transactions in the last 24 hours. The sum of the purchase is said to be worth about $11.34 million.

According to the report, Gimli’s biggest transaction is the purchase of 250 billion SHIB tokens. The purchase was said to cost the owner $2.86 million.

This development has placed Shiba Inu in the top 10 tokens most bought by Ethereum Whales. The top 2000 Ethereum Whales are purchasing other tokens recently as an alternative. SHIB has been accumulated in unprecedented volumes in the past 24 hours.

But the latest accumulation has not had much effect on the price of Shiba Inu. SHIB only recorded a 2% increase in its price in the past 24 hours. The meme coin is currently trading at $0.000011 an average as of press time.

SHIB is still down as much as 87% from its all-time high at $0.00008845. The token has recorded up to 14% over the past 7 days.

Gimli Pumps Up Its Holding

Ethereum whales are capitalizing on the current price dip. The crypto market is working toward settling from the ongoing collapse.

Nevertheless, SHIB has been one of the to-go choices of large Ethereum whales. The leading 100 Ethereum whales are currently holding SHIB tokens worth close to $567.8 million.

It is revealed that Gimli holds SHIB tokens worth close to $4.31 million. It indicates that the wallet owner sold some of the SHIB holdings a few hours ago. This was revealed as more research went in.

In addition to SHIB, the whale is also holding Enjin Coin, Fantom, Chainlink, and Decentraland. All these are also in reasonable volumes in Gimli’s wallet as reports show.   

Traders have been hoping for a quire reset of the market at any moment. Bitcoin has been bouncing back gradually for a couple of days.