A deep-pocketed Shiba Inu (SHIB) investor is snapping up hundreds of billions of SHIB tokens as the crypto markets dip.
New data from whale-surveying platform WhaleStats reveals that user BlueWhale0073, the 254th-ranked Ethereum (ETH) whale in the world, bought 117,883,960,216 SHIB worth $1,256,643 on April 20th.
-->In a separate transaction moments later, the high-net-worth trader purchased 194,114,774,578 SHIB, worth $2,069,263, bringing the total amount of SHIB devoured by the whale to 311,998,734,794.
The whale purchased the meme asset as it dipped about 30 from its 2023 high. The meme asset peaked on February 4th, hitting a price of $0.000014. However, the whale was able to scoop up the tokens for $0.000011, which is what SHIB is currently trading for at time of writing.
Fresh data from Shibburn, a protocol that keeps track of how many SHIB tokens are burned, finds that the burn rate of the meme token during the last 24 hours has risen by 69.51 at time of writing as 22,375,349 SHIB have been discarded in the last day.
According to market intelligence firm IntoTheBlock, only 29 of Shiba Inu holders are in the green at current prices while 67 are underwater. In contrast, the crypto analytics platform finds that 53 of Dogecoin (DOGE) holders are sitting on unrealized gains while 39 of them are seeing red.
