Whales are jumping into memecoins as an Ethereum whale with over $800 million in different cryptos on its wallet keeps buying Shiba Inu ($SHIB). So far, the whale has over 1.67 trillion SHIB tokens in its wallet.
According to Business Insider, the Ethereum whale has bought around $1.8 million worth of Shiba Inu over the last few days to add 50 billion tokens to its holdings.
WhaleStats first noticed the transaction and reported on activity about the largest 1,000 wallets on the Ethereum network.
Note that the wallet, called Jiraiya, has been betting on SHIB over the Binance Smart Chain (BSC) as well. Recently, the whale bought about 100 billion tokens worth $3.5 million, adding to its over 200 different assets.
Moreover, the whale has also other holdings, including Bitpanda Ecosystem Token (BEST), Ethereum, Pantos Token (PAN), the native token of Pantos, chilliZ (CHZ), Chainlink (LINK), Decentraland (MANA), and Polygon (MATIC). This makes Jiraiya one of many Ethereum whales that are collecting large amounts of Shiba Inu.
Another Ethereum whale with over $300 million in digital assets also added 72 billion SHIB tokens, worth over $2.5 million, to its wallet.