While Gimli bought 386 billion SHIB, BlueWhale0159 added 147 billion tokens to his account. The Ethereum whales have also collected APE, GALA, and SLP and have shown interest in the Otherside metaverse platform.

Although Shiba Inu (SHIB) has lost 90% of its value in the bearish market, it can continue moving. Right now, the Ethereum (ETH) whales are paying close attention to the meme coin.

During the bearish trend, the accounts of the whales grew by billions of new SHIB tokens. For example, the well-known whale Gimli bought 386 billion SHIB over the last week.

The Factor Motivating the Growing Interest in SHIB Purchases

A foray into the Metaverse may have caused that renewed interest in the meme coin SHIB. Shiba Inu developers recently shared the progress of their Metaverse and GameFi projects, which game designer William Volk will explain shortly.

SHIB is trading at around 0.00001210 and has accumulated a 5.8% gain over the last week. Its daily trading volume is above USD 577.90 million, while its market capitalization is about USD 7.33 billion, according to CoinGecko.

Ethereum Whale Gimli Continues Collecting Shiba Inu

Amid the current bearish trend, Gimli, one of the ten richest Ethereum whales, continues purchasing SHIB tokens. According to data from WhaleStats, two whales added 533 billion SHIB, equivalent to USD 3.5 million, to their accounts.

While Gimli bought 386 billion SHIB, another Ethereum whale (BlueWhale0159) added 147 billion tokens to his account.

The wealthiest Ethereum investors keep SHIB as the most collected alternative meme coin. The whales also hold the FTX Token (FTT), Decentraland (MANA), and Polygon (MATIC).

Shiba Inu has been unable to avoid losing 12% of its value over the last week despite the purchases by the whales. The token, listed on exchanges like Robinhood, Binance, and Coinbase, is worth around USD 0.00001210.

There Are Other Meme Coins of Interest besides SHIB

This week, the Ethereum whales have also collected ApeCoin (APE), GALA, and Smooth Love Potion (SLP). They have shown interest in the Otherside metaverse platform over the last two weeks.

That interest from the whales has led ApeCoin to test the USD 7 level. After the latest correction, the price of APE fell back to USD 5.54. It is currently trading at USD 6.71 and has accumulated an 8.0% gain over the last week.

Although the price of GALA rose to USD 0.60, the latest correction took it back to USD 0.48. It was among the meme coin that lost the most in the bearish season. GALA dropped to 111th place after being among the top 50 by market capitalization.

The Axie Infinity metaverse platform uses the Smooth Love Potion (SLP) token. SLP Coin is trading at around USD 0.00445 and has accumulated a 4.3% gain over the last week.

The growing interest in meme coins by the Ethereum whales has made them relevant in the market. It is worth remembering how some comments from Elon Musk drove the price of Dogecoin (DOGE) in a few hours.

By Alexander Salazar

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