Although Shiba Inu does not have the most impressive market performance, its fundamental background remains strong.
While Shiba Inu’s market performance leaves much to be desired, background on-chain and market data suggest that large investors are still interested in purchasing some tokens for their portfolios, according to Whalestats.
The service tracks the holdings of the 1,000 largest Ethereum addresses that hold Erc-20 tokens. Previously, U.Today reported that Shiba Inu regained its place among the most popular holdings in large wallets. Now, the Whales have decided to increase their position in the memes based tokens.
Total holdings of all tokens have been redistributed, and Shiba Inu has gained additional dominance compared to previous periods. Today, 21% of the largest portfolios hold Shiba Inu, up from 17% yesterday.
Shiba Inu remains in the top five most-purchased tokens in a 30-day period with $1.3 million of the average purchase amount and 23.5 billion of the average token quantity.
At the time of going to press, Shiba is trading with a daily loss of 6.4%, previously losing an additional 10% of its value on November 16.
