The numerous partnerships, listings, and endorsements seemed to be barely influencing the price of Shiba Inu [SHIB]. While the altcoin managed to break several other records, its value remains extremely low. Large whale movements or timely burns have also had no major impact on the price of SHIB. Despite this, SHIB remains one of the most sought-after assets.
The whales across several chains have been viewing Shiba Inu as a great investment as they were seen pouring all their funds into the altcoin. Ethereum [ETH] whales, particularly have a soft corner for the dog-inspired cryptocurrency. An ETH whale with a massive purchase of 50 billion SHIB worth $1,106,564 proved its inclination towards the altcoin.
The community was rather puzzled about how a purchase of this magnitude had minimal effect on Shiba Inu’s price. A Twitter used said,
“Too bad the price action doesn’t denote the purchase. Not complaining, although, I would think a 50+ Bil purchase would bring the price up at least a bit?”
Over the previous 24-hours, Shiba Inu was up by only 2.27 percent. This was almost every asset in the market. During press time, the altcoin was trading for $0.00002196. Additionally, the highest that SHIB surged over the day was $0.0000223.
The popularity and the demand for Shiba Inu have dramatically surged in the last couple of months. Yet, the price remains inert. The altcoin hit an all-time high of $0.00008845 back in October 2021. Ever since the asset has dropped by 75.17 percent.
Shiba Inu among most purchased tokens by biggest ETH whales
While the whale movement did not have any impact on SHIB’s price, it came with other benefits. Shiba Inu was back on the list of top 10 most purchased tokens by 5,000 biggest ETH whales.
WhaleStats alerted the community of this movement and pointed out that SHIB took over the sixth position.