Shiba Inu takes the top spot among the leading ERC20 tokens despite the latest slump in price. The whales are making the most out of the Shiba Inu dip by adding bags of SHIB coins to their portfolio.
On an average, individual whales have picked up 20 billion SHIB coins in the last seven days. The token remains to be an undisputed king in the whale community.
Ethereum has turned out to be the second most loved crypto in the whale community. SHIB has held the top spot since close to a month and its whale dominance is increasing by the day.
Whales Love Shiba Inu
During the first week of November, it was reported that a mysterious whale purchased $750 million worth SHIB coins in a span of 10 days. The whale religiously filled his/her bags from October end to the first week November and purchased SHIB seven different times.
However, the identity of the whale remains to be a mystery. It is not known if the buyer is an individual, trading platform or a business entity. Nonetheless, the identity of the whale is not confirmed and the transaction remains anonymous.
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Also, during the first week of November, an unidentified whale moved 40 trillion SHIB coins worth $2.76 billion to four different wallets. The wallets in question have no previous history of transactions.
The whale in question had invested $8.000 on SHIB in October 2020 and a year later gained fortunes of a lifetime. The investor also holds Dinger Token, Bean, Umi Token among others. Many claim that the whale moved the holdings to four different wallet addresses to evade taxes.
In addition, a few days ago a mysterious whale transferred 20 trillion SHIB tokens worth $1.13 billion. This is arguably the biggest whale movement across Shiba Inu in 2021. To be specific, the whale transferred up 20,000,000,000,000 Shiba Inu tokens from crypto.com and moved it to an unknown wallet address.
Even the best of whale watchers were unable to find out which wallet address the tokens were moved to. In conclusion, whales have become comfortable trading Shiba Inu and remains their favourite go-to token till date.
Shiba Inu at the time of publishing was trading at $0.00005233 and is down -4.1% in the 24-hours day trade.