Ethereum whale BlueWhale0073, has purchased a staggering amount of 356 billion worth of Shiba Inu.
The whale ushered the SHIB token payment regardless of the crypto market’s downward momentum during this crucial season of Q2 of 2020.
The news was discovered by WhaleStats, an on-chain crypto tracking service provider focused on the top 100 wallets on various blockchains.
When calculated, the purchased 356 billion worth of SHIB token is estimated to have cost him slightly more than three million USD.
This has set the meme coin’s users ablaze jubilating in hope to see SHIB recover soon in the market.
Apart from SHIB’s current purchase, whales have been acquiring Shiba Inu at an unprecedented rate since the beginning of this year.
Meanwhile, the Shiba Inu community believes that the purchase will propel SHIB’s price to a new height despite the market’s downward trend position.
At the time of writing, the Shiba Inu price has not risen significantly as a result of the whale's purchase. SHIB price is $0.000008099, up 5% on coin and token information website CoinMarketCap.