Shiba Inu is renowned as the largest asset held by Ethereum whales and one of the cryptocurrencies most concentrated in possession of a few large holders.
A cryptocurrency whale tracker called WhaleStats recently revealed that “Galion,” the 130th largest ETH whale, had just amassed an incredible total of 272,000,000,000 (272B) SHIB, worth $3,000,159 ($3M) in two separate transactions in the past 24 hours.
Shiba Inu (SHIB) has become the most traded token among the top 100 ETH Whales, with a key ETH investor purchasing $3 million worth of SHIB in the last 24 hours.
According to the WhaleStats report, the major ETH trader started trading around eight hours ago and added 100,000,000,000 (100B) SHIB, worth $1,102,999 ($1.10M), to her wallet in her first transaction at an average price of $0.0000109 per SHIB.
That’s not all. The affluent ETH investor carried out another historic transaction at the same time and acquired an additional 172,000,000,000 (172B) SHIB, worth $1,897,160 ($1.89M).
As per Etherscan.io data, the top ETH Whale currently has a staggering total of 282,798,383,030 (282.79B) SHIB in her wallet, which is equal to $3,090,986 ($3.09M).
The Shiba Inu cryptocurrency is one of the most popular meme tokens in the crypto world, and it has experienced rapid growth in the past. The SHIB Token has seen widespread adoption as a payment currency by reputable businesses worldwide.
It also implemented a burn mechanism to reduce token supply while maintaining exclusivity. According to recent reports, Shiba Inu (SHIB) has risen to the top of the list of “Top Purchased Cryptocurrencies” among the 500 largest ETH Whales, as the Burn rate for the most popular canine-themed cryptocurrency has risen by more than 800% in the last 24 hours.
Furthermore, WhaleStats reported over the weekend that Shiba Inu‘s governance token, BONE, is one of the most used smart contracts among the top 1000 Ethereum whales.
The sudden increase in the token’s value over the last week can be attributed to the resurgence of interest.
