A massive whale in the ecosystem of the meme-inspired cryptocurrency Shiba Inu ($SHIB) has expanded its portfolio to nearly 5 trillion tokens after adding an additional 171.68 billion SHIB for around $1.88 million through four different transactions.
The investor’s accumulation spree has seen numerous sizable purchases coming from wallets associated with leading cryptocurrency exchange Binance, from unmarked wallets, and from wallets associated with proprietary trading firm Jump Trading.
The whale kept on acquiring SHIB in various transactions, ranging from $400,000 to $1 million, to the point it accumulated $1.88 million worth of the meme-inspired cryptocurrency. The accumulation has seen the whale’s wallet swell to 4.97 trillion SHIB tokens.
The investor’s second most substantial digital asset holdings comprise Ethereum’s native currency, ETH, with a staggering $80.9 million worth of tokens in their possession. Following SHIB, the investor’s portfolio includes $13.1 million in Polygon ($MATIC) and $4.9 million in Avalanche ($AVAX).
Additionally, the investor’s wallet contains $4.7 million worth of Chainlink ($LINK), $3.4 million worth of Aave ($AAVE), and $3.3 million worth of Compound ($COMP). The wallet also holds $2.22 million worth of Uniswap ($UNI), as well as an assortment of other tokens and altcoins. In total, the investor’s wallet encompasses a remarkable $170 million in digital currency holdings.
Data from leading analytics firm IntoTheBlock has revealed that a substantial number of SHIB tokens are now held by long-term investors, demonstrating the token’s growing appeal among holders with a longer investment horizon.
The firm’s data shows that SHIB holders who have kept their tokens for over a year collectively own 687.17 trillion $SHIB, worth over $7.20 billion. These long-term holders control nearly 70% of Shiba Inu’s circulating supply.
Cruisers, or market participants holding their Shiba Inu tokens for one to 12 months, own 232.54 trillion $SHIB, worth more than $2.43 billion. These cruisers account for 23.65% of the token’s supply.
Traders, or those who have held onto their SHIB for less than a month, control 63.55 trillion SHIB, amount to over $650 million and less than 6.5% of the cryptocurrency’s supply.
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