SHIB is back on the whale radar as nearly 2 trillion Shiba Inu tokens have been purchased
According to WhalesStats, the largest Ethereum (ETH) holders’ accumulation in Shiba Inu tokens has increased by 1.7 trillion SHIB in the past seven days. As of today, the cumulative position size in the meme token of the top hundred ETH whales is 5.79 trillion SHIB, which is equivalent to $50.84 million.
The trend for SHIB among large Ethereum holders continued today, with the token becoming one of the leaders in terms of trading volume among this group of investors. As detailed statistics from the WhaleStats portal show, more of them buy Shiba Inu tokens than sell them.
Do whales take their profits?
The consolidation of the positions of large investors in SHIB was accompanied by the rise in the price of the token. Over the past seven days, the price of the Shiba Inu token has risen 9.5%, and at one point yesterday, 19%.
During this price spike, as reported by U.Today, token quotes tested the upper boundary of the range it had been consolidating in for two months. If the portal’s data is to be believed, SHIB transfers by the big players took place during this price action yesterday and also, interestingly, the day before.
