Shiba Inu is still an ETH whale favorite; Here’s why

Sahana Kiran
Shiba Inu
Source – Unsplash

The crypto-verse welcomed an array of cryptocurrencies over the last two years. Shiba Inu [SHIB] undoubtedly took the front stage. The asset was at top of its game and paved the way for the emergence of an array of similar assets. As the fervor around the coin persists, Ethereum [ETH] whales were seen holding on to their assets.

After splurging immensely during the bearish days, ETH whales were either holding or selling their Shiba Inu. Over the last couple of weeks, ETH whales managed to amass trillions and billions of SHIB. Just last week, an ETH whale bought a whopping 523 billion SHIB worth about $12.67 million.

As the market was painted green, the whales were alerted. According to WhaleStats, SHIB was the eighth-most sold token by the whales.

Shiba Inu
Source – WhaleStats

During press time, Shiba Inu was up by nearly 7 percent over the last 24-hours and was trading for $0.00002798. The week started off on a great note for the altcoin. It managed to pocket gains of about 19 percent. This abrupt surge could have motivated ETH whales to make some profit from their holdings.

The top 1000 ETH wallets were persistent about holding on to their Shiba Inu hoping for bigger surges. As a result, SHIB was the third most held token by the richest ETH whales.

Stay Tuned! The Shiba Inu Network Is Brewing Something

Is it an exchange listing, perhaps another ‘partnershib‘ or news about the Shibverse. The Shib Army laid out an array of speculations following a tweet from the Shiba Inu network. The network revealed that there was a big announcement scheduled for tomorrow.

While assumptions poured in, the above tweet could mean that Shiba Inu was collaborating with a travel company. This wouldn’t be surprising considering the number of partnerships that the asset entered into this year.