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crypto whale scooped up 50 billionshiba inu coins worth $1.8 million on Thursday as its continued to tumble. - Shiba inu has fallen 17% in the past seven days alongside a wider sell-off in cryptocurrencies.
- On Tuesday, another big holder purchased nearly 100 billion shiba inu coins.
An ethereum whale purchased close to $1.8 million worth of shiba inu as the dogecoin-inspired coin slid this week during a wider sell-off in digital currencies.
The whale — a popular term for a big holder — bought 50 billion of the meme coins on Thursday, according to $4, which tracks activity for the 1,000 largest ethereum wallets.
That brought the $4 wallet's total holdings to 1.67 trillion shiba inu, worth $59.6 million.
It follows another big shiba inu bet on Tuesday, when another whale$4 up close to 100 billion worth $3.5 million, this time on the Binance Smart Chain.
Shiba inu has fallen about 17% over the past seven days, and is down 2.9% in the past 24 hours at $0.00003524, according to CoinMarketCap data.
Digital currencies have tumbled as fears about the Omicron coronavirus variant detected last week roiled asset
Crypto investors have been bracing for a stronger dollar if US inflation continues to soar. On Friday, official data showed the $4 year-on-year, its highest level since 1982.
Shiba inu is in the hands of a few big investors. Its biggest whale holds over 410 trillion of the coin, which is 41% of its total supply, according to CoinMarketCap data.
Recent moves by shiba inu whales have driven the
In November, the meme coin tumbled by as much as 21% after a big holder moved $2.3 billion worth out of wallets, which spread fears the coins would be sold and pull the price down hugely.
A month earlier, shiba inu climbed 22% to hit a new record high, after another $4 coins, worth about $11.5 million.