Shiba Inu Remains to be An Undisputed King Among ETH Whales

Vinod Dsouza

Shiba Inu has remained at the top position among ETH whales for close to a month straight. The coin remains to be an undisputed king by taking the top position of the heatmap wars. The ETH-rich list, which constitutes the top 1000 wallets, has gone all-in for Shiba Inu.

Data on shows a whale purchasing large amounts of SHIB tokens almost every day. The whale movements spiked up after ‘Robinhood will list Shiba Inu’ rumors swirled around social media. In addition, considering the coin’s popularity, even the whales have caught the phycological ‘fear of missing out’ enigma.

Shiba Inu: Whale Watching

Just a few hours ago, an Ethereum whale purchased $1.3 million worth of Shiba Inu. The trend of whales taking an entry position in SHIB grew steadily from the last week of July 2021.

Whales that took early entry position in July saw the coin get listed on eToro and WeBull in August. Whales that took entry position in August saw the coin get listed on Coinbase Pro, Binance, and Coinbase in September.

The whales have mostly benefitted after taking an entry position as the price has shot up after every listing.

Also, details on show a mysterious whale buying $750 million worth of SHIB coins in the last ten days. Another investor who threw in $8,000 on SHIB in August 2021 saw their portfolio grow to $5.7 billion today.

The particular investor in question moved 40 trillion coins worth $2.76 billion to four different and new wallet addresses. Each transfer to the four wallet addresses are $600 million and 10 trillion tokens, respectively.

The reason why the whale moved the assets to four different wallet addresses remains to be a mystery. Nonetheless, many on social media claim it could be a move to avoid paying a significant amount in taxes. However, The identity of the whale remains to be unknown.

Also, just a few days ago, another whale had purchased 153 billion SHIB tokens worth $11 million. The transaction came from the Gimli Wallet and swapped Ethereum to purchase Shiba Inu.

After SHIB’s phenomenal rise in October, it shot up +900% whales showing love on the coin almost daily. For instance, a Robinhood listing can propel the coin to newer heights and knock out a zero or two from its trade.

At the time of publishing, Shiba Inu was trading at $0.00004873 and is down -15.91% in the 24-hours day trade.