- As adoption of the popular meme cryptocurrency continues to rise, in the past two days one of the biggest Ethereum whales has purchased over 105 billion Shiba Inu tokens.
According to WhaleStats, as SHIB adoption continues to expand, the ETH whale, named after one of the dwarfs in JRR Tolkien’s iconic novel “The Hobbit,” has purchased a massive amount of SHIB, up to 105 billion tokens, in the past two days.
In the same time frame, more ATMs were added by SHIB Bitcoin of America, and Welly’s SHIB fast food chain reported receiving more than 300 franchise requests.
Massive wallet swallowed 105 billion SHIB, which remains whales largest holding
According to tweets posted by the WhaleStats crypto tracker, Ethereum investor “Bombur”, which ranks 20 on the list of the top 100 ETH whales provided by the service, purchased 54,045,382,286 SHIB earlier today. The whale continued its purchases and added a similar amount of 50,992,035,458 Shiba Inu tokens to its cache.
As a result, the investor spent about $1.5 million on these two-piece transfers.
🐋 ETH whale “Bombur” just bought 54,045,382,286 $shib ($1,323,030 USD).
Ranked #20 on WhaleStats: https://t.co/3ADbDHvWPW
— WhaleStats – BabyWhale ($BBW) (@WhaleStats) April 22, 2022
Meanwhile, SHIB continued to maintain its top spot as the largest holding in terms of USD value of the 100 largest whales on the Ethereum chain. Generally speaking, these investors hold just over $1.3 billion in Shiba Inu (SHIB) in their wallets. However, it is worth noting that this amount has been gradually decreasing this week as whales have been gradually selling SHIB and converting the money to other cryptos lately.
SHIB adoption spreads more broadly
This week saw a significant increase in Shiba Inu adoption despite the downtrend in price. Notably, it was reported last week that the second largest dog cryptocurrency could be used to buy a Porsche from Porsche Towson, the company’s sole dealer in Baltimore.
It was also announced that SHIB will be added to more crypto ATMs belonging to the Bitcoin of America chain. In addition to these, when it comes to the food industry, Wellys, an Italian-based Italian fast food chain that chose SHIB as its mascot, has recently received more than 300 franchise applications.
The Shiba Inu (SHIB), which has dropped 4 percent in the last 24 hours, is trading at $0.000024 at the time of writing.
You can check the price movements here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, KoinFinans and the author of this content cannot be held responsible for personal investment decisions.