A recent report by WhaleStats states that the trading volume in the top 100 whales holding the Shiba Inu has increased to a record high of 511%. With this the average balance of the token has increased by 26.58% and its average value has increased by 24.18%. This increase in trading volume is said to be due to increase in active addresses. According to WhaleStats, crypto whales are transacting with trillions of Shiba Inu tokens, resulting in a 70% increase in active addresses.
Ethereum whales are currently buying Shiba Inu and the number is so high that Shiba Inu has become the most bought token in the last 24 hours. The report states that the Shiba Inu tops the list of the 10 largest tokens bought by the 2000 largest ETH whales. In this episode, 395th ranked ETH whale account BlueWhale0113 has bought 312,285,225,685 Shiba Inu tokens.
The reason for such large number of token purchases is also very simple. Actually whales buy tokens at a time when the token is going bearish. Currently, there is a bearish phase from Bitcoin to Shiba Inu. So this is the best time for whales to buy their favorite tokens. It is at such times that whales add to their reserves of favorite tokens.
Currently, Shiba Inu price is trading near $0.0000118. In India it is trading at Rs.0.000920. Its price has declined by 2.45 percent in the last 24 hours. Shiba Inu recently opened up about his alliance with The Third Floor (TTF). With this Shiba Inu is going to step into the world of metaverse. That’s why Ethereum whales see potential in this token and are buying it.
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