Shiba Inu (SHIB) Is Top Traded Among Largest Ethereum Whales

Top Ethereum Whales are going after Shiba Inu and its BONE as Shibarium confidence builds.

A whale splashing in the crystal clear water, trying to catch the swimming Shiba Inu.
  • SHIB sees increased ETH whale trading activity this week.
  • The hype around Shibarium builds on SHIB Token’s socials.
  • Whales also actively accumulate Bone ShibaSwap (BONE).

The popular memecoin Shiba Inu (SHIB) flipped the prospering Polygon (MATIC) today for the most traded crypto among the TOP 100 biggest Ethereum (ETH) whales. Besides, as the Shiba Inu community, more popularly known as the SHIB Army, is preparing for Shibarium’s launch, the whale activity suggests that the top holders see Shibarium as a game-changer.

Whales Keep Splashing Money on SHIB

For instance, the increased whale trading activity is seen in six trillion Shiba Inu tokens transferred from Binance. According to Etherscan, the ten transactions were made to top up an anonymous wallet with a staggering $75,660,000 worth of tokens.

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At press time, the #15 ranked Japanese guard dog-themed memecurrency is changing hands at $0.00001252, according to CoinGecko. The canine coin inked 3.9% profit in the last 24 hours and 7.6% in weekly terms. Besides, the vast community is patiently waiting for updates on Shibarium. Ultimately, the launch of the Layer-2 solution is set to bring another token in the ecosystem, Bone ShibaSwap (BONE), back into the spotlight.

This comes just weeks after the official SHIB Token developer team confirmed that Bone ShibaSwap would be the only token used in Shibarium for gas fees. At the time of publication, the governance token for Shibarium trades at $1.49, according to CoinGecko.

  • The WhaleStats data tracker suggests that the Whale Fear and Greed Index is at 5, which is extremely low and signals ‘Extreme Fear’ between whales. At the minute, more ETH whales are selling than buying SHIB, but the buy/sell volume is still on the buying side, as the largest whales choose to accumulate the popular memecoin.

Why You Should Care

Shiba Inu (SHIB) is an ERC-20 token on the Ethereum (ETH) blockchain. Shibarium, the upcoming Layer-2 solution, can significantly increase Shiba Inu’s dominance in the altcoin market.

Track the latest moves of the fabulous Shiba Inu:

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This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Tadas Klimasevskis

Tadas Klimaševskis is a Lithuanian journalist at DailyCoin, specializing in covering the lighter side of the crypto industry such as memecoins and pop culture in the metaverse. He has experience as a music artist, English language teacher, and freelance writer, and uses his creative writing skills to summarize valuable information in his work. He is also a strong believer in the potential of blockchain and spends his free time listening to music, traveling, and watching basketball games.