3 Reasons Why Ethereum Whales Are Buying Shiba Inu

Vinod Dsouza
why ethereum eth whales are buying shib shiba inu
Source: Unsplash

Whale movements in Shiba Inu gained steam after June 2021, as the top 1000 Ethereum rich list began purchasing enormous amounts of SHIB tokens. Between August to November 2021, there was news about humongous whale purchases almost every 2 days.

The trend continued in 2022 as well and SHIB is seen as a prime investment among the ETH rich list. From the famous ‘Gimli’ whale to ‘Light’ and ‘Jiraiya’ whales, all of them have billions of SHIB in their portfolio.

If you’re wondering why the top 1000 Ethereum whales are buying Shiba Inu. Below is your answer:

1. Expecting A Wider Adaptation

Euler Finance allows Shiba Inu investors to earn interest on their holdings
Source: Pixabay

Surprisingly, Shiba Inu is being accepted by various businesses around the world and is slowly breaking into the mainstream audience. In December 2021 alone, 10 different companies accepted SHIB as legal payment on their check-out pages. SHIB is also among the most talked-about cryptocurrency in the world and the meme token is dominating headlines of top news channels.

A continuous development like this can turn the meme-currency into a phenomenon. The larger-than-life enigma of SHIB can give generate a feeling of ‘fear of missing out’ among investors. The FOMO would make many more people pour their investments into SHIB. This gives whales an added advantage to sell their holdings as the price spikes up after more investments pour into the token.

Read Also: Accept Shiba Inu’: NOWPayments Highlights Why Companies Need to Start Accepting SHIB as Payment

2. Metaverse Opportunity

What is Shiba Inu Shiberse
Source: Shiba Inu Token

Metaverse is touted to be the future and could be worth $1.5 trillion by 2030, according to Grayscale’s report. A handful of Fortune 500 companies have started to pour their investments into the Metaverse, Web3, and gaming ecosystem. Shiba Inu is also in the league as it announced its own Metaserve segment Shiberse.

Getting in early in the Metaverse sphere could turn beneficial for SHIB’s price and ETH whales are banking on it. The Metaverse sphere could be a gamechanger for Shiba Inu and could sustainably scale up in price. In addition, SHIB has also positioned itself to launch its in-house gaming in collaboration with PlaySide Studios and AAA Studios.

The play-2-earn games in Web3 and Metaverse could generate profits in the long run. Also, whales are fully aware that Shiberse can bring additional value and pump the eme-tokens price in the coming future.

Read Also: Shiba Inu Enters Metaverse By Launching ‘Shiberse’, Here’s Complete Details on the Development

3. Robinhood Listing Rumours

Robinhood Listing Shiba Inu
Source: Pixabay

There’s no surprise that even the top Ethereum whales are eager to see Robinhood listing Shiba Inu on their platform. In fact ‘Hey Robinhood, when SHIB?’ tweets hit a feverous pitch between October to November 2021 and whales purchased loads of SHIB during that period.

A Robinhood listing could do wonders to SHIB’s price as it would open the floodgates of new users into the meme currency. At present, Robinhood boasts of around 14 million active users and a listing would increase SHIB’s trading volume. The ETH whales stand to gain as the price could skyrocket whenever the announcement is made.

Read Also: Robinhood CEO Talks About Shiba Inu Listing: ‘So We’ve Been Hearing From Customers Loudly’

Since the last 24-hours, Shiba Inu spiked +50% and its market cap now stands at a staggering $18.5 billion. At press time, Shiba Inu was trading at $0.00003416 and is up +22.04% in the 24-hours day trade.