Whale Buying Shiba Inu Dip, Top 1000 ETH Wallets On Average Accumulates 647M Shib Coins In 24 Hours
Whale Traders are purchasing 647.4 Million Shiba Inu Tokens in 24 Hours on average as they are not missing the dip.
While smaller traders are scared of the massive price fluctuation of Shiba Inu (SHIB), whale traders have continued to display their confidence in the asset class by buying the cryptocurrency whenever there is a price dip.
The recent market dip has again presented an opportunity for the top 1,000 Ethereum addresses to continue their accumulation spree of Shiba Inu.
Whale Stats, an on-chain crypto data provider, reports that the top 1,000 Ethereum addresses have accumulated a combined 647,408,355 SHIBs (647M) in the last 24 hours.
🐳🐳 Top 10 purchased tokens in the past 24hrs by 100 biggest #ETH whales
4⃣ $SYN @SynapseProtocol
5⃣ $IMX @Immutable
7⃣ $CVX @ConvexFinance
8⃣ $SHIB @Shibtoken
🔟 $VRA @verasitytech
Whale leaderboard: https://t.co/VqAZn9zsRe pic.twitter.com/BvA4tNeTXt
— WhaleStats – BabyWhale ($BBW) (@WhaleStats) March 5, 2022
Shiba Inu, which peaked at around $0.00002523 yesterday, has fallen to a low of $0.00002324 in the last 24 hours, which presented an opportunity for whale traders to accumulate the popular dog-themed cryptocurrency.
The development marks the latest accumulation spree by whale traders. Since the beginning of the year, traders have been accumulating cryptocurrency at every slight opportunity presented by the market.
Two Ethereum whale traders purchased a combined 885.27 billion Shiba Inu tokens earlier this month.
Shiba Inu is not the only cryptocurrency primarily purchased yesterday following the dip, according to Whale Stats. Per the data, the top 1,000 Ethereum addresses also purchased various stablecoins, Ethereum (ETH), Verasity (VRA), Convex Finance (CVX), PolyBull Finance (BULL), etc.
Today Shib also became Shib’s 5th Most Mentioned Crypto on Twitter.