Top Shiba Inu Wallet Holds Tokens Worth Over $100M

An Ethereum (CRYPTO: ETH) wallet address holds over 3.9 trillion Shiba Inu (CRYPTO: SHIB) tokens worth $101 million. 

What Happened: According to a snapshot of the wallet’s balance on Etherscan, the whale holds 3,914,263,607,418 SHIB which was worth $101,418,570 as of Monday.

Last week, wallet tracker WhaleStats reported that the whale purchased 200 billion SHIB tokens worth $4.9 million.

The week also saw another two large SHIB holders make several significant purchases, accumulating a total of 500 billion tokens through a series of transactions. 

On-chain data showed that on March 21, one whale bought 271 billion SHIB for $6.5 million. On the same day, another whale bought 51 million SHIB for $1.18 million. 

Despite the increase in whale activity, retail interest in Shiba Inu appeared to be waning in recent weeks. 

The number of individual wallets holding SHIB saw a 3.8% decline between March 1 and March 22. 

The meme coin's popularity has led to several companies accepting it as a means of payment. At the time of writing, Newegg Commerce Inc (NASDAQ: NEGG), AMC Entertainment Holdings Inc (NYSE: AMC), and GameStop Corp (NYSE: GME) accept SHIB as payment.

Price Action: At press time, SHIB was trading at $0.00002639, up 6.69% in the last 24 hours, as per data from Benzinga Pro.