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Whales Are Back for Shiba Inu (SHIB)

Shiba Inu (SHIB) has regained the interest of investors that buy and hold significant amounts of digital currencies.

The famous meme token is now among the Top 10 most on-demand tokens for Ethereum whales.

According to data shared on an on-chain tracking website WhaleStats, SHIB was the 7th most purchased crypto among the 1,000 major capital investors. SHIB transaction volume increased by nearly 34% during the past 24 trading hours.

The Ethereum whales on average spent $123,223 to buy SHIB tokens, with the average amount of purchases lingering around 4.7 billion SHIB tokens.

shiba inu shib whales

The so-called “DOGE killer” currently ranks as the third most held crypto among the Ethereum whales. As stated by WhaleStats, the top 100 ETH wallets hold over 58.8 trillion SHIB coins, worth more than $1.55 billion. 

The concentration of SHIB holders among the top wallets is also one of the highest (17.42%), surpassed only by FTX token holders (18.77%). 

Shiba Inu (SHIB) is currently more than 70% down from its all-time high price of $0.00008616 on October 28, 2021. The token has been steadily going down since then, reaching lows of $0.00002069 on February 3rd and testing similar levels on the day, when Russia started a full-scale military invasion into Ukraine on February 24th. 

SHIB has recovered by nearly 24% since then and trades at around $0.00002554 at the time of this writing.

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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 to be financial legal or tax advice. Trading Forex, cryptocurrencies, and CFDs poses a considerable risk of loss

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    Author

    Simona is a fintech journalist and content editor at DailyCoin Academy, which focuses on educating new crypto investors. She entered the crypto space in early 2018, got burned, but discovered a passion for trading, and now it’s her hobby. Simona covers crypto and blockchain-related topics and takes a deeper look at what lies behind the latest industry trends.