Are meme coins running the crypto business? Shiba Inu [SHIB] and Dogecoin [DOGE] continue to remain the most sought-after cryptocurrencies in the world. Whales from different networks were seen hoarding a ton of SHIB as the asset begins to recover.
The increased interest for Shiba Inu and the constant developments rolled out by its ecosystem has got Ethereum [ETH] as well Binance Coin [BNB] whales splurging on the meme coin. More recently, WhaleStats revealed that a BNB whale had made a large purchase of 139,929,254,883 SHIB worth about $4,232,859.
Following this massive purchase, Shiba Inu managed to lead the list of the top 10 purchased tokens by 1000 biggest BSC whales over the last 24-hours. Ethereum on the other hand was down in the 10th spot despite being priced at $2,868.
Additionally, bears went on to paint the entire market red but spared Shiba Inu. Almost all the big market cap crypto assets were recording major losses. Yet, SHIB encountered a daily surge of 0.72%. At press time the meme coin was trading for $0.00002943.
Furthermore, there was trouble in paradise. After residing right next to its rival Dogecoin [DOGE] for quite some time, SHIB slipped down the crypto ladder. The meme coin was at the 14th position with its market cap at $16.14 billion. Meanwhile, Dogecoin navigated its way back into the top 10.
Ethereum Whales are also on a Shiba Inu buying spree
The Shiba Inu frenzy had reached the Ethereum network as well. Just yesterday, the meme coin flipped MATIC to emerge as the most traded token by 1000 biggest ETH whales. The biggest ETH whales were holding about 54,640,355,419,904 SHIB.
This wasn’t all, WhaleStats pointed out that SHIB entailed the biggest token position by dollar value. This means that SHIB had ‘the highest aggregate USD value among the top 1000 Ethereum wallets.’
