Ethereum Whale Buys 2 Trillion Shiba Inu For $48M

An Ethereum (CRYPTO: ETH) whale was seen snapping up $48 million worth of Shiba Inu (CRYPTO: SHIB) tokens.

What Happened: According to a transaction alert from blockchain wallet tracker Whale Stats, the whale bought 2 trillion SHIB tokens worth $48.4 million on Tuesday.

See Also: How To Buy Shiba Inu (SHIB)

Blockchain data tracker Etherscan has identified and labeled the purchase wallet as Crypto.com — a Singapore-based crypto exchange.

After the purchase, the Ethereum whale had 19.3 trillion SHIB tokens valued at $449 million. Data shows that this is more than twice the balance in the Crypto.com wallet which held 8 trillion SHIB worth $197 million at the time of writing.

SHIB has long remained a popular token among the richest Ethereum wallets. As of November, the 1000 largest ETH wallets collectively held $2.36 billion SHIB.

See Also: Shiba Inu Whale Bought 5.4 Trillion Tokens After Robinhood Listing And Now Adds Another 177B

Price Action: According to data from Benzinga Pro, SHIB was trading at $0.0000232, down 1.72% over 24 hours.