A crypto whale recently made headlines after purchasing 144.5 billion Shiba Inu (SHIB) tokens within one hour. The analytics platform, Spotonchain, revealed that the whale returned to SHIB as an investment tool after reaping substantial profits from it earlier this year. Besides SHIB, the whale also acquired 326.3 billion PEPE and 550.1 million NEIRO, signaling a renewed interest in meme coins.
Massive Crypto Purchase Using DAI Stablecoin
To fund this massive acquisition, the whale spent $12.8 million in DAI stablecoins. The breakdown of this purchase includes approximately $4 million for 114.5 billion SHIB, $7.97 million for 326.3 billion PEPE, and $952,000 for 550.1 million NEIRO. The transaction utilized nine separate digital wallets, each connected to the same whale.
Despite this enormous spending spree, the whale still holds over $7 million in DAI, suggesting that more purchases may follow. This whale is no stranger to major SHIB trades. On March 31, they sold 533.6 billion SHIB, realizing a profit of $8.24 million within less than a month.
Related article: Shiba Inu Nears Critical Levels Amid 11 Trillion SHIB Volume
This successful trade highlights the whale’s strategy of capitalizing on market fluctuations. Meanwhile, another crypto whale made headlines earlier this week by depositing 121.75 billion PEPE on Binance, securing a $2.13 million profit.
SHIB Burn Rate Skyrockets 12,670%
Beyond the whale’s activity, the broader SHIB community remains committed to reducing the token’s circulating supply. The Shibburn tracker reported that the community burned 52,023,508 SHIB in the last 24 hours, boosting the burn rate by a staggering 12,670%. The largest burns included 40,464,770 SHIB, 9,726,555 SHIB, and 1,460,893 SHIB.
Related article: Shiba Inu Whale Burn Pushes Community Closer to Burn Milestones
The SHIB community’s collective burn efforts have removed 410.74 trillion SHIB from circulation. This initiative gained momentum in May 2021 when Ethereum co-founder Vitalik Buterin burned almost half a quadrillion SHIB after receiving it as a gift from SHIB’s creator, Ryoshi.
Since then, the community has continued to reduce supply, aiming to increase the token’s value over time. These developments highlight the ongoing influence of large investors and community efforts in shaping the future of Shiba Inu and meme coins at large.
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