According to onchain data provided by Lookonchain, a whale has started to accumulate truly incredible amounts of memecoins.
A total of 9 cryptocurrency wallets owned by two different whales purchased 1.35 trillion Shiba Inu (SHIB) worth 35.2 million dollars at an average price of 0.00002596 dollars in the last 12 hours.
At the time of writing this article, SHIB price is trading at $0.00002581. It appears that the whale's purchase did not result in a meaningful increase in the price of the memecoin.
Further onchain analysis showed that yet another SHIB whale was buying. According to the data, in the last 6 hours, a whale purchased 715.9 billion SHIB tokens by paying 4,849 ETH worth 18.44 million dollars. Previously, this whale had purchased 5.5 trillion units of SHIB for only $400 thousand in the early period of SHIB and sold it for $121 million at the two peaks.
So this whale had previously earned approximately 120 million dollars in total through SHIB.
*Not investment advice
