Crypto Venture Firm Acquires 130,722,306,727 Shiba Inu (SHIB) in Massive Accumulation Spree
A crypto venture firm has snapped up billions of Shiba Inu (SHIB) tokens during a massive multimillion-dollar accumulation spree.
New data from blockchain search engine Etherscan reveals that Chicago-based trading firm Jump Trading has seen its trove of SHIB grow exponentially from 250,000 on February 4th to just over 130.7 billion at time of writing.
The acquisition of the dog-themed meme token means that Jump Trading, known for being one of the smallest hedge funds, now has about $1.7 million worth of SHIB. Overall, the platform has about $150 million in assets under its management, according to its latest earnings report.
However, the report also states that Jump Trading may have an even larger portfolio than disclosed as it may have assets that aren’t publicly disclosed, such as cash or real estate.
The hedge fund’s accumulation spree comes as Shiba Inu sees a decrease in price. The Dogecoin (DOGE) competitor has dipped about 4% during the last 24 hours as it continued to slide down from its seven-day high of $0.000015 to its current price of $0.000013.
Recently, crypto analytics platform Santiment reported that whale activity centered around Shiba Inu has been ramping up in 2023 as it has become the second-largest altcoin holding among Ethereum (ETH) whales.
According to Santiment, the 5,000 biggest ETH whales in the world now collectively hold a massive 50,905,707,716,073 SHIB worth just over $735,000,000.
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Ralf Juergen Kraft/WindAwake
The post Crypto Venture Firm Acquires 130,722,306,727 Shiba Inu (SHIB) in Massive Accumulation Spree appeared first on The Daily Hodl.
