• WhaleStats data shows that SHIB was the most purchased token among the top 2000 ETH whales.
• SHIB is currently the most traded token of the top 100 largest wallets.
• In the past 24 hours, the price of SHIB is up 1.58 percent, trading at around $0.0000082.
Memecoin Shiba Inu (SHIB) has seen a surge in popularity among large Ethereum investors, according to tracking platform WhaleStats. The platform, which tracks the top 5000 biggest Ether (ETH) wallets, reported that SHIB broke into the top 10 most purchased tokens of the 2000 biggest ETH whales on Dec. 29. This is despite bearish trading in the market, as data from Santiment suggests a declining retail interest in the token.
WhaleStats data also showed that SHIB is currently the most traded token of the top 100 largest wallets, which collectively hold 20 percent of the total circulating supply of SHIB. Their average SHIB balance is 1.9 billion SHIB tokens worth around $16.3 million. This is a massive dip in buying activity by the whales, yet their activity has curtailed the bearish momentum of SHIB in the last few days.
In the past 24 hours, the price of SHIB is up 1.58 percent, trading at around $0.0000082. This comes after the token dropped 6.11 percent in the two weeks chart. If whale activity is sustained and big money continues to flow into the SHIB ecosystem, it is projected to welcome massive retail interest in 2023. As such, investors should be mindful of whale activity and leverage this knowledge to make informed decisions.