Along with the likes of Polygon’s MATIC and Chainlink [LINK], the Ethereum rich list has been pretty fond of Shiba Inu [SHIB]. Their inclination towards SHIB has valid reasons too – the project’s ecosystem, alongside adoption, has been expanding, it has a loyal and dedicated community, it has been trying to keep up with the evolving trends in space at quite an impressive pace and most importantly, it has been successful in aiding market participants to make some quick money with its exponential rallies.
Well, of late, the top 1000 Ethereum whales have started eying this token again. In fact, Whale transaction aggregator WhaleStats brought to light that Shiba Inu already navigated its way back into whale wallets. Its recent tweet read,
“JUST IN: SHIB is back on the top 10 purchased tokens by 1000 biggest ETH whales in the past 24 hours“
The bigger picture that you were not aware of
As per WhaleStats’ website, over 185.4 million Shiba Inu tokens worth $5930 have been purchased over the past 24-hours.
However, it should also be noted, that a similar chunk of Shiba Inu tokens were also sold. As per data, the same set of whales ended up selling over 149.99 million tokens worth $4650 in the same time frame. To an extent, the buy-numbers were been nullified.
Additionally, earlier during the day, it was brought to light that the cumulative value of all the SHIB tokens held by the said set of whales reclaimed $2 billion. It, in fact, reflected a ballooned-up value of $2.76 billion.
However, five hours later, at the time of press, this number was already deflated to $1.67 billion. Using the same data sets it can also be deduced that Shiba Inu’s weightage in the Ethereum rich list portfolios has shrunk from 23% to 16%.
Most other tokens like FTX and CRO and MATIC, for that matter, did not witness a deviation similar to Shiba Inu in the same five-hour period.
Even though the numbers above hint that Ethereum whales have started selling their Shiba Inu, it’d be interesting to wait and watch if these big players replenish their HODLings by re-buying the token during its dip.
Exchanging hands at $0.00003113 at the time of press, Shiba Inu was down by more than 5% in the week’s trade.