Tuesday, November 29, 2022

Billionaire Ether Whales Splashing Hundreds Of Millions On Shiba Inu And ApeCoin Raise Eyebrows

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More Ethereum Whales Joined The Network Despite Recent Price Crash, Data Shows

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Ethereum whales seem to have found a sweet spot in Shiba Inu and the newly listed Bored Ape Yacht Club’s ApeCoin, splashing hundreds of millions of dollars in SHIB and APE purchases.

According to transaction data picked up by WhaleStats, a resource that broadcasts crypto transactions by crypto whales, an unknown ETH whale purchased a whopping 3,713,675,424,944 SHIB on Saturday, spending $89,128,210 with the entire transaction only costing a fee of $6.

The whale entity, which is ranked 216 on WhaleStats now holds Ethereum worth $168.7 million which is 59.69% of its total holdings. Shiba Inu falls second at the fore mentioned value and forms 31.29% of the whale’s wallet, with Tether and LINK ranking third and fourth at $17.9 million and $7.4 million respectively.

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WhaleStats has also identified another ETH whale which gobbled up APE tokens valued at $4,208,000 on Friday, spending $5 in transaction fees.

The whale entity, which ranks number 20 on the list of largest whales has a total wallet value of $2.20 billion. A deeper dig into its investment allocations depicts it as deeply immersed in metaverse-linked projects and DAOs.

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That said, with both Shiba Inu and ApeCoin devs having an armor of strong hardliners and a great story to back their plans, it can be seen why whales are jumping ship in other projects to onboard the newly found investment vehicles.

As reported, ApeCoin, the native token for ApeDAO, a decentralized anonymous organization that is already attractive for its successful BAYC NFTs, is projected to be huge for what it seeks to achieve. As of now, APE which is trading at $9.90 is viewed as a good buy for its low price and attractive circulating supply. Furthermore, the project has already hit a $3 Billion market cap which just shows how interested investors are in the project.

On the other hand, Shiba Inu continues to act as a magnet to investors, first for its low-priced token prices and secondly, its planned entry into the metaverse. With the metaverse fast gaining the attention of institutional and individual investors, the launch of Shiberse is expected to be a watershed moment for SHIB’s price.

Moreover, the launch of Shiba Inu games and Shiboshi NFTs are expected to boost the value of the entire Shiba Inu Ecosystem, bolstering price. Currently, SHIB is trading at $0.00002312 after gaining 6.45% in the last seven days.

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