Ethereum Whale Buys $89 Million Worth of Shiba Inu (SHIB)

Shiba Inu (SHIB) has long been one of the most popular memecoins on the market, and it has attracted the interest of retailers from all over the world.

However, it appears that whale Ethereum addresses are also interested in the cryptocurrency.

Data from the popular resource tracking large transactions recorded a large Ethereum whale buying a massive number of Shiba Inu (SHIB).
The address in question is ranked number 216 in terms of total assets, and it bought a whopping 3.7 trillion of the cryptocurrency, currently worth around $89 million.
Looking at this whale’s overall asset distribution reveals that his portfolio consists of 31.39% SHIB 59.62% ETH, and the rest is spread amongst other cryptocurrencies such as USDT and Chainlink (LINK).
At the time of this writing, the price has failed to react positively and trades predominantly flat on the day.
It’s also worth noting that the hype behind what was once the cryptocurrency that shocked the world seems to be fading across the board.
CryptoPotato reported during the weekend that Shiba Inu NFTs – The Shiboshis – are also down about 70% since their all-time high from last year.