SHIB Emerges on Top Purchased Coins’ List as Whales Start Massive Acquisitions

Contents

• SHIB briefly turns into most purchased asset
• ETH whales have dumped all their SHIB

As reported by popular wallet tracker WhaleStats, in the past 24 hours, the second biggest canine token, SHIB, has again climbed to the top 10 list of the most purchased cryptocurrencies on the Ethereum chain.

In the meantime, large movements of SHIB have been spotted as whales have been buying and selling big chunks of Shiba Inu coins.

SHIB briefly turns into most purchased asset

Per a tweet posted by WhaleStats on Dec. 5, the prominent meme coin SHIB was noticed among the ten cryptocurrencies most hunted by the largest 5,000 Ethereum whales.

Among the other altcoins on that list were MATIC, cbETH and others. By now, however, SHIB cannot be seen on this top list of whales’ favorites. Now, it includes APE, DAI and stETH.

JUST IN: $SHIB @Shibtoken now on top 10 purchased tokens among 5000 biggest #ETH whales in the last 24hrs 🐳

We’ve also got #SMARTCREDIT, $ANT, $cbETH, $MATIC & $COV on the list 👀

Whale leaderboard: https://t.co/kOhHps8XBB#SHIB #whalestats #babywhale #BBW pic.twitter.com/VXY80ZOStj

— WhaleStats (tracking crypto whales) (@WhaleStats) December 5, 2022

However, over the past 20 hours, whales have shoveled nearly a trillion Shiba Inu, as covered by U.Today earlier. Some of these tokens were sold on Binance, and some were moved to freshly created wallets.

Nearly half a billion SHIB were wired by the Binance exchange between its own wallets as part of the proof-of-reserves (PoR) audit that Binance initiated for itself and all other respectable crypto exchanges after the collapse of FTX and its subsidiary trading firm, Alameda Research.

ETH whales have dumped all their SHIB

As covered by U.Today on Monday, the top 100 investors on Ethereum no longer hold large amounts of SHIB in their wallets.

As per the table of crypto assets held by the largest wallets on Ethereum, SHIB is no longer not among the top 10 holdings but not even among the top 20.

Now, the majority of their comprised portfolio consists of stablecoins USDC and USDT with such coins as DAI and wrapped Bitcoin, following them on the list of the biggest holdings.