Shiba Inu emerges as a favorite among the biggest ETH whales

Sahana Kiran
Shiba Inu ShibaSwap to exclusively launch 2 new tokens MetaBET and Voxel X Network confirms Shytoshi Kusama
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Shiba Inu [SHIB] was one of the most popular coins in 2021. The meme coin rose to popularity and there was no turning back. SHIB even carried its upward trajectory on to 2022. Now, as the asset was enduring a slight price rut, it was seen emerging as an ETH whale favorite.

The arrival of meme coins started several years ago, however, coins like Shiba Inu, BabyDoge, and a few others provided the momentum that was needed. As the meme coin market continues to expand, the number of people interested in it is simultaneously surging. ETH whales seemed to be the most interested as SHIB was back among the top 10 most purchased tokens by 1000 biggest ETH whale wallets.

WhaleStats announced this movement on Twitter. Shiba Inu further took over the eighth position right ahead of BAT.

Furthermore, a total of 149,652,616 SHIB tokens were purchased with the average purchase amount at $3,231.

Shiba Inu beats Ethereum, Cardano as top viewed coin

Prominent cryptocurrency exchange, KuCoin revealed its weekly top searches on Twitter. The platform revealed that Bitcoin [BTC] took the top spot and Shiba Inu followed suit. Major cryptocurrencies like Binance Coin [BNB], Ethereum [ETH], Solana [SOL], and others were way behind the meme coin.

Shiba Inu
Source – Twitter

As the popularity of Shiba Inu continues to surge, the Shib Army was making sure to burn an array of tokens. The Shibburn team on Twitter pointed out that they had single-handedly destroyed about 1.3 billion SHIB tokens throughout January.

Additionally, it seemed like January witnessed a lot of destruction in the SHIB market.

Despite the consistent burns, the price of the meme coin did not fare very well. While most of the coins were bagging big gains, Shiba Inu was recording a dainty surge similar to its rival Dogecoin [DOGE]. The meme coin was trading for as low as $0.00002171 with a 3.68% rise in the last 24-hours.