Ethereum Whales Are Loading Up On SHIB Despite Downtrend

Ethereum whales are loading up on SHIB despite the recent downtrend in value as Shiba Inu continued to be an investor favorite in the crypto space as we can see more today in our latest Ethereum news. Find out where to buy Shiba Coin for yourself safely.

It suffered plenty of dips just like the rest of the crypto market and it has left it less than 50% of the all-time high but that hasn’t done much to really affect the support that the asset enjoyed. The smaller and larger investors alike are pouring money into the altcoin that made a fair share of crypto millionaires despite being a young project. Ethereum whales took up the strong stance in the altcoin as the accumulation of the token among the investor class ramped up in recent times. Shiba Inu accumulation patterns among Ethereum whales are loading up seemingly in the past few days. The meme coin has been shown to command most of the dominant among the top 1000 ETH wallet holdings that hold a major amount of SHIB altogether. These wallets continued to accumulate the asset at a fast rate ever since it started declining from its all-time high.

Looks like whales are really hungry for #SHIB 🐳🐳

🥳 An ETH whale added 4T $SHIB ($136M) in the past 24hrs 👉 https://t.co/DCjI0wd9vF

🏆 $SHIB is most traded and biggest hodling token among the top 1000 ETH wallets#ShibArmy RT if u always think $SHIB is the King 😉 pic.twitter.com/hOsa99etTl

— WhaleStats – BabyWhale ($BBW) (@WhaleStats) December 21, 2021

The most recent of the accumulation patterns were the acquisition of 4 trillion SHIB by a single ETH address and the whale wallet added a total of $136 million worth of SHIB in the 24-hour timeframe which only proves to be the most dominant token among the top ETH wallets. The top 1000 Ethereum wallets now hold a total of $1,728, 062,660 worth of tokens as the highest of any other token. Most of the SHIB investors are in profits despite how much the digital asset fell in the past few months. The number sits at 55% of all SHIB token holders continue to be in profit with 10% remaining in the neutral territory.

About 35% are recording losses so far and the data from IntoTheBlock only mapped out a great year that the meme coin had. The coin that spent a huge chunk of time in obscurity made its way into the top ten cryptos by market cap after the strong rally that saw it break an ATH above $0.00008. It did lose its footing and dropped to 12^th place but it is still one of the biggest cryptos in space.