Shiba Inu Becomes One of Most-Purchased Tokens by Ethereum Whales, as On-Chain Data Reports

📆 1/16/2022 5:00 PM
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ICYMI: ShibaInu has entered the top 10 of most bought tokens among large wallets, as per WhaleStats data SHIB $SHIB SHIBArmy

According to the volume indicator on TradingView, traders are not willing to actively trade the asset and prefer larger caps like Ethereum or Bitcoin. The low activity of traders could also be tied to it being the weekend .While the buying activity of whales is an important indicator, the total value of whale holdings on whale addresses has reached $1.5 billion, resulting in a drop of SHIB token to second place in the total holdings.

First place is still behind the FTX Token, FTT, which is being held with a capitalization exceeding $1.6 billion. Shib's drop to second place was followed by a prolonged battle of two assets for first place. But unfortunately for its investors,At press time, Shiba Inu is trading at $0.00003 with a -1.4% daily loss. The recovery rally on the asset has not yet concluded due to Shiba Inu trading above the $0.00003 support zone.

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