Ethereum Whale Adds 112 Billion Shiba Inu, Now Holds $48 Million Worth of SHIB

An Ethereum whale named “Gimil” begins 2022 crypto investment by accumulating 112,693,971,658 Shiba Inu coins on the 3rd of January 2022.

The transaction was carried out in two tranches but on the same day, 2,693,971,658 Shiba Inu valued at $89,240.23 was bought at 07:26:02 PM +UTC while 110,000,000,000 Shiba Inu worth $3,643,848.62 was acquired at 11:39:53 PM +UTC.

Data from etherscan showed that the ethereum whale now has a total of 1,460,585,087,148 SHIB valued at $48,608,271.70.

Also, an update on Shiba burn revealed that 60,190,263 SHIB tokens have been burned from the 1st of January to the time of writing. Data from shibburn showed that a total of 410,300,580,706,684 SHIB have been burned so far, representing over 41 percent of the total supply of Shiba Inu coin.

Tokens burned are permanently removed from the circulating supply of SHIB, this is done by sending the token to a dead wallet with inaccessible private keys. It is believed that the decrease in Shiba Inu circulating supply will eventually increase the price of the coin.

However, despite the whale accumulation and continuous burn of SHIB, the coin has been following a downward trend in the last few days and is still far from its all-time high recorded in October last year.

Shiba Inu is 62.51 percent down from its All-Time High of $0.00008845 recorded on Oct 28, 2021. In the last 24 hours, SHIB is 2.46 percent down to trade at $0.00003313 at the time of writing.