Ethereum ($ ETH) whales have scooped up more than 217 billion Shiba Inu ($ SHIB) tokens in a continuous accumulation of meme-inspired cryptocurrencies. The whale bought the token for just over $ 6 million.
According to WhaleStats, a whale monitoring service that tracks up to 1,000 whales on the Ethereum network, 208th On top of that, the biggest whale bought tokens shortly after it became clear that the turf burn rate exceeded 6,700%.
The meme-inspired cryptocurrency burn rate soared after more than 745 million tokens were burned in just 24 hours. SHIB Burn has been in the last few weeks after the team behind cryptocurrencies announced the launch of a token burning portal set up to help the crypto community burn tokens to reduce the circulation supply. It has become a hot topic over the years.
Ethereum whales seem to be accumulating cryptocurrencies, especially inspired by memes. This month, another whale invested $ 1 million to buy 49.6 billion SHIB, but earlier this year another whale bought 58.9 billion SHIB at the time of purchase for $ 1.9 million.
Whales have accumulated to the point where meme-inspired cryptocurrencies have surpassed the FTX exchange’s native token, $ FTT. This is the second largest holding in the ETH whale portfolio.
SHIBArmy is also particularly looking forward to the launch of Shibarium, a layer 2 network built on the Ethereum blockchain aimed at supporting the Shiba Inu ecosystem. It is set to enable “quick and low cost transactions optimized for games”.
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