Shiba Inu (SHIB) Is Top Traded Among Largest Ethereum Whales

SHIB sees increased ETH whale trading activity this week.
The hype around Shibarium builds on SHIB Token’s socials.
Whales also actively accumulate Bone ShibaSwap (BONE).

The popular memecoin Shiba Inu (SHIB) flipped the prospering Polygon (MATIC) today for the most traded crypto among the TOP 100 biggest Ethereum (ETH) whales. Besides, as the Shiba Inu community, more popularly known as the SHIB Army, is preparing for Shibarium’s launch, the whale activity suggests that the top holders see Shibarium as a game-changer.

JUST IN: $SHIB @Shibtoken flipped $MATIC for MOST TRADED token among top 100 #ETH whales

Check the top 100 whales here: https://t.co/N5qqsCAH8j

(and hodl $BBW to see data for the top 5000!)#SHIB #MATIC #whalestats #babywhale #BBW pic.twitter.com/WEfHfUrDtL
— WhaleStats (tracking crypto whales) (@WhaleStats) February 2, 2023

Whales Keep Splashing Money on SHIB

For instance, the increased whale trading activity is seen in six trillion Shiba Inu tokens transferred from Binance. According to Etherscan, the ten transactions were made to top up an anonymous wallet with a staggering $75,660,000 worth of tokens.

At press time, the #15 ranked Japanese guard dog-themed memecurrency is changing hands at $0.00001252, according to CoinGecko. The canine coin inked 3.9% profit in the last 24 hours and 7.6% in weekly terms. Besides, the vast community is patiently waiting for updates on Shibarium. Ultimately, the launch of the Layer-2 solution is set to bring another token in the ecosystem, Bone ShibaSwap (BONE), back into the spotlight.

This comes just weeks after the official SHIB Token developer team confirmed that Bone ShibaSwap would be the only token used in Shibarium for gas fees. At the time of publication, the governance token for Shibarium trades at $1.49, according to CoinGecko.

JUST IN: $BONE @shibtoken now on top 10 by trading volume among 5000 biggest #ETH whales in the last 24hrs

Peep the top 100 whales here: https://t.co/kOhHps8XBB

(and hodl $BBW to see data for the top 5000!)#BONE #whalestats #babywhale #BBW pic.twitter.com/7ro9HZBRx2
— WhaleStats (tracking crypto whales) (@WhaleStats) January 27, 2023

On the Flipside

The WhaleStats data tracker suggests that the Whale Fear and Greed Index is at 5, which is extremely low and signals ‘Extreme Fear’ between whales. At the minute, more ETH whales are selling than buying SHIB, but the buy/sell volume is still on the buying side, as the largest whales choose to accumulate the popular memecoin.

Why You Should Care

Shiba Inu (SHIB) is an ERC-20 token on the Ethereum (ETH) blockchain. Shibarium, the upcoming Layer-2 solution, can significantly increase Shiba Inu’s dominance in the altcoin market.

Track the latest moves of the fabulous Shiba Inu:

Litecoin (LTC) Tops Shiba Inu (SHIB), Surges to Triple Digits

Shiba Inu (SHIB) Community Picks Slogan for SHIB: The Metaverse

Text source: DailyCoin.com

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