After lagging in the market, Kishu Inu seems to be making its way back. As per the data provided by Whalestats, Kishu Inu is on its way back to the top 10 tokens purchased by the 1000 biggest Ethereum (ETH) whales.
Closer look at Kishu Inu’s performance
Although Kishu Inu made its way to the top 10 coins purchased by the biggest 1000 Ethereum (ETH) whales, upon closer examination, the coin doesn’t seem to inspire much confidence.
According to the data provided by Whalestats, the token’s volume among the top ETH whales was up by 22.93%, reaching $93,553. Its active addresses were at 5, going up by 25%. However, its Netflow was down by 327.22% in the last 24-hours. This would indicate that the jump in purchases was fueled by a typical pump and dump.
The transaction chart of the top 100 holders also reflected an oscillation between holding and selling.
In 2021, Kishu Inu made headlines when it provided incredible returns to its investors, with ROI reaching an awesome 467%. People who missed out on Doge, Shiba Inu, and Floki, were of the opinion that Kishu Inu would be their big break in the market. By the last week of October 2021, early investors who jumped on board during the company’s early days had seen their assets increase by +19,000 %. However, things didn’t go as planned for many, as the coin’s value plummeted in the following weeks. The coin is 88.2% down from its all-time high in May of 2021.
The coin has been absent from action for some time now. Being back on the top 10 purchased tokens sure will bring back some of its sparks, but it can appear to be short-lived, as a negative net flow doesn’t inspire much confidence.
Kishu Inu released its second trailer for the Kishu Inu Verse on the 17th of January, 2022, and said that they would be announcing utilities and use cases very soon. No updates have been released since.