SHIB is now one of the most actively purchased cryptocurrencies on the market
After the long-awaited listing on the Robinhood trading platform, Shiba Inu received a ton of social attention on platforms like Twitter. In addition to the increase in social volume, large traders bought a significant amount of tokens, which made SHIB one of the most purchased assets among Ethereum whales in the past 24 hours, according to WhaleStats.
According to the whale tracking service, Shiba Inu is now the fifth-most purchased an asset on the market, which is second only to various stablecoins and Ethereum. Both types of assets are usually placed first as whales use them as a bridge between fiat and crypto.
When it comes to the largest USD position among the top 500 Ethereum blockchain wallets, Shiba Inu still holds the top spot, beating out FTX Token, stablecoins, and shrouded Bitcoin. The total SHIB holdings held by the whales are valued at $1.4 billion, which is the highest value of tokens held by the whales since the start of the year.
Previously, SHIB lost all of its dominance among whales after dropping to the new low of $0.00002. At that time, the total value of whale holdings plunged to $1.1 billion, which caused an outflow of funds from Shiba Inu.
Shiba Inu Market Performance
As U.Today previously mentioned, Shiba Inu’s market performance remains stagnant as the 20% pump after the listing announcement was not enough to cover the token’s losses in 2022.
At press time, Shiba Inu trades at $0.000026 after losing 12.6% from the local top reached on the Robinhood listing news. Despite the one-candle pump, Shiba is still below February’s high of $0.000035.
