Shiba Inu (SHIB) has reemerged on list of assets that ETH whales are buying eagerly


Shiba Inu (SHIB) has once more climbed to the top 10 list of the most popular cryptocurrencies on the Ethereum chain over the last 24 hours. While this is going on, whales have been seen making significant SHIB moves as they buy and sell substantial amounts of meme coin.

Shiba Inu (SHIB) Emerges on Top Purchased Coins’ List as Whales Start Massive Acquisitions

According to WhaleStats on December 5, the well-known meme coin SHIB was one of the 10 cryptocurrencies that the largest 5,000 Ethereum whales were hunting the most. MATIC, cbETH, and other cryptocurrencies were included in that list of alternatives. SHIB, however, is no longer among the top choices for whales as of yet. APE, DAI, and stETH are now included.

The top 100 investors on Ethereum no longer hold large amounts of SHIB in their wallets. As per the table of crypto assets held by the largest wallets on Ethereum, SHIB is no longer not among the top 10 holdings but not even among the top 20. Now, most of their comprised portfolio consists of stablecoins USDC and USDT with such coins as DAI and wrapped Bitcoin, following them on the list of the biggest holdings.

In what has been a challenging year for cryptocurrencies, marked by failures in the market and declining valuations, Shiba Inu has added almost 250,000 new holders. Digital currencies are underperforming due to the Fed’s tightening monetary policy and a series of major industry firms going bankrupt, including Terra, Celsius and FTX.

There are presently 1,257,121 Shiba Inu owners, according to WhaleStats. This number was significantly higher in previous weeks, occasionally exceeding 1.274 million. Therefore, it might be claimed that SHIB added about 250,000 holders on average throughout the previous year.

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