Shiba Inu is trying to regain its lawful place
Despite the questionable market performance in the last weeks of the year, Shiba Inu was able to come back from the deep correction with a 16% price increase that put him extremely close to the top spot among the largest holdings. of the top 1,000 Ethereum. addresses.
First place on the WhaleStats tracker is currently being held by FTT token with $1.5 billion concentrated in the wallets of whales. At the same time, approximately $1.2 billion worth of Shiba Inu token are being held by the largest Ethereum addresses.
Regarding the token’s market performance, Shiba Inu has followed the general trend in the cryptocurrency market by continuously updating local lows so far. While most cryptocurrencies in the market show murky reversal signs, SHIB suddenly experienced a 16% price increase.
The jump in the value could be considered higher than average due to relatively low volatility on the asset after the major 60% correction from its ATH. Previously, the average daily volatility of Shiba Inu was at approximately 2%, which is an extremely low value compared to its price action back in October.
Shiba Inu interest in whales
Despite the negative price action on Shiba Inu, whale-level addresses were still interested in the meme-based token, as sudden buying power with volumes above $5 million consistently appeared on the downside. SHIB.
The most recent purchase was made by an anonymous whale back in December. An Ethereum whale has added four trillion SHIB tokens worth approximately $136 million.
At press time, Shiba Inu is trading at $0.000022 and seeing a 16% price increase, according to CoinMarketCap.
