shiba inu (SHIB), has lost a large part of its dominance among the top 1000 Ethereum whales. This trend worsened after SHIB lost 12 percent of its market value due to a domestic rebound. Despite this, the whales seem to keep accumulating. According to Whale Stats, a whale watching platform, an Ethereum whale named “Gimli” recently bought another 28 billion SHIB, worth a notable $1.1 million.
Ethereum Whale Bought 28,236,296,316 SHIB
With the GameFi industry jumping into an uptrend in the market, meme coins and tokens like Shiba Inu are entering a long-term phase of price change and even a downtrend that leads to a later loss of capital and market value.
The dominance of different assets in the market can often be thought of as a trend indicator. When the dominance percentage drops, whales often redistribute their coins to different assets. In other words, while the market is moving towards GameFi and Metaverse tokens, whales are transferring their money to these sectors. Despite all this capital movement, some whales are still taking advantage of the opportunity to accumulate more SHIB.
Prior to that, again on November 30, this unnamed whale purchased an additional 24.8 billion SHIB tokens worth $1 million. And as a result, the famous “Gimli” whale currently has 1.2 trillion SHIB worth $52.9 million.
According to CoinGeko data, the Shiba Inu is trading at $0.000041 at the time of writing.
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.