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Dog-themed token Shiba Inu (SHIB) has bounced off a crypto humpback whale to record a 10 percent price increase. Whale is a general term for big investors used within the crypto circle.
This singular purchase moved the price of the meme coin from $0.000028 on Monday to $0.000034 by Wednesday. According to data from WhaleStat, one large investor pumped $134 million into the project to buy 4 trillion tokens of Shiba Inu.
The wallet has $144 million worth of SHIB in total. Other Ethereum-based tokens held on the wallet include Sandbox and GALA, two metaverse tokens that have grown immensely in recent months.
In all, the ERC-20 tokens stored on the wallet are worth half a billion dollars. Data also shows that the whale holds stablecoins and other altcoins such as Matic, loopring, and enjin. Shiba Inu has transited from being just another meme coin to become one of the most profitable digital assets in 2021.