As the token trades at a large discount, Whale raises his Shiba Inu position.
According to WhaleStats, an unidentified Ethereum whale who presently owns more than $100 million in Shiba Inu tokens has purchased an additional 47 billion SHIB tokens, making him one of the token's greatest holders.
A whale made a significant buy five hours before press time, according to the transaction page, and currently owns $116 million in SHIB. Aside from Shiba Inu, the 15th-place wallet contains $600 million worth of tokens from Adidas, Twitter, and YouTube.
The whale's portfolio has $186 million in "Other tokens," which include positions like Matic, Ethereum, SAND, and others.
Adidas Metaverse, which is now valued at almost $500 million, is the whale's largest holding. His or her wallet is currently on the rise, having increased in value from $610 million to $1.1 billion in just a few days.
The market performance of the Shiba Inu
Smaller altcoins like Shiba Inu are displaying more or less acceptable market movement as the cryptocurrency market dives deeper, with no severe drawdowns seen in the recent 10 days.