A Shiba Inu whale lost around 3 billion in a matter of months. The Ethereum whales in the past few days have been making it to the headlines of the crypto world due to their constant interest in the Shiba Inu. Billions of dollars worth of SHIB coins have been hoarded by the whales. This act was thought to be a part of the great scheme to manipulate the flow of the market a few days ago.
Unfortunately, the recent events prove that the investments in SHIB are clearly not a bright decision taken by the whale. In fact, this decision has brought this investor to the bottom of the list of 1000 prominent Ethereum wallets. But this down current in the wallet owes only so much the investments in Shiba Inu. Because the whale’s holdings worth 7 billion has been coming down slowly to 4 billion since the beginning of December.
A larger part of the losses certainly is owing to Shiba Inu which currently trades at 58% loss. However, the whale seems to have kept the losing streak since the beginning of this month. It means larger investments of the whale such as Ethereum and Mana have not been performing very well lately as well. The 22% Loss from Shiba Inu added to Ethereum and Mana would come up to a 52% loss.
According to WhaleStats, the tracking gets much more difficult with the wallet sending different coins to and fro. The reports show that the whale still holds 35% of the SHIB coins, despite the losses. Ethereum is also one of the larger positions of the same. However, second only to Shiba Inu. The two of the largest positions currently are not making any returns for the wallet. And this forecasts a significant fall in the wallet’s value if countermeasures are not taken immediately.
Currently, Matic is the only holding in the whale’s wallet that has shown a positive growth of around 5% in the last 24 hours. Smaller holdings in the wallet like Mana, Wrapped BTC, Sand and Enjin also have not been showing any positive growth lately.
Although the current stats seem a bit on the downside for the whale, the expert predictions have been good for the crypto space, especially Shiba Inu, in 2022. We are yet to know if there is an encore to this ambitious play of the Ethereum whale in the days to come.