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Massive Amount of Shiba Inu, ETH Gobbled by Whales Amid Dull Price Action: Details

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Per WhaleStats data, in recent hours, whales have been grabbing such assets as Ethereum and Shiba Inu as the crypto market dipped.

On-chain data provider WhaleStats recently provided an analysis of the top 10 purchased tokens by Ethereum whales over the past 24 hours. Shiba Inu and Ethereum, alongside stablecoins USDC, USDT and BUSD, are among those on the list.

Though multiple transactions involving the purchase of different tokens were reported by the blockchain data tracker, the most recent ETH transaction was that of an FTM whale acquiring 1,796 ETH, or $4,604,203 worth.

Another whale had bought 1,180 ETH, or $3,078,715, as Ethereum appears as one of the top purchased tokens over the last 24 hours.

As per IntoTheBlock data, Shiba Inu whales have become more active over the last 24 hours as the number of large transactions rose by 16%. Spikes in large transactions often point to high activity among institutional players, or whales, who are either buying or selling.

WhaleStats
Top 100 Shiba Inu Holders, Courtesy: WhaleStats

The top 100 Shiba Inu holders have likewise increased their portfolios, as WhaleStats reports a 125.74% rise in the average SHIB balance of this category of investor. The average SHIB value of their portfolio has also grown by 112.74%.

Shiba Inu highlights growth in recent report

Despite launching in August 2020, SHIB has recorded widespread adoption, as the number of holders has reached 1,196,806, according to WhaleStats data.

As highlighted in a recent report published on the official Shiba Inu blog, the massive adoption of SHIB has contributed significantly to the surge of Shiba Inu’s price by a whopping 46,000,000% in 2021, the report highlights.

With a solid community behind the Shiba Inu project, cryptocurrency exchanges are left with no choice but to make the coin available for trading on their platform. SHIB is now listed on over 100 exchanges, including Coinbase, Kraken, KuCoin, Crypto.com, Binance and others.

SHIB trades at $0.0000223 at press time.

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