Shiba Inu price rises on large purchases of Ethereum whales

The price of Shiba Inu, one of the popular meme coins, has gained some momentum due to large purchases by Ethereum whales. The crypto market has been under pressure since the beginning of this week due to macroeconomic concerns. There has been a lot of selloff in some of the major cryptocurrencies.

According to data from CoinMarketCap, the SHIB was priced around $0.0001080 when this report was published. It has gained more than 3.30 percent during the last one day. The WhaleStats report states that two Ethereum whales have bought over 530 billion SHIB in three major transactions. Ethereum whale Gimli has a major stake in these transactions. This whale bets mostly on SHIB. It has considerable holding of Shiba Inu. Apart from this, another Ethereum whale BlueWhale0159 has also bought SHIB in large quantities. This whale is also very interested in SHIB.

Over one lakh virtual plots have been sold on Shiba Inu’s Metaverse. Some of these plots will be used for roads, grounds and other public purposes. In terms of price, these plots are divided into four categories – Silver Fur, Gold Tail, Platinum Paw and Diamond Teeth. The SHIB team has decided to use a neutral cryptocurrency as a land pricing token. This will prevent the downside risk of Shiba-linked tokens, SHIB, LEASH and BONE. These tokens will be used when further phases of the metaverse of SHIB begin.

In this regard, the SHIB team had said, “Funds from this will be used to pay for Metaverse development. The team has decided to use a neutral coin which is sold as a stablecoin to pay all sources There will be a risk by using our ecosystem.” The community associated with this mime coin has also been promised a financial reward for purchasing land in its metaverse. Buyers of virtual plots will be able to earn indirect income as well as in-game resources and rewards. In this, users will get a personal space where they can create their projects.

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