The Shiba Inu smart contract has been used significantly more than that of other Ethereum-based cryptocurrencies by the top 100 ETH whales in the last 24 hours
SHIB is the most widely used smart contract
According to WhaleStats, the Shiba Inu smart contract has been used significantly more than that of other Ethereum-based cryptocurrencies by the top 100 ETH whales in the last 24 hours.
This fact demonstrates that whales have been actively grabbing SHIB as of late, and the second-largest canine crypto on the market is the largest part of the comprised portfolio; at the time of writing, the 100 largest wallets contain slightly more than $1.3 billion in Shiba.
This amounts to 53.4 trillion tokens or 14.79 percent of their ETH-based token portfolio.
The whales’ second-largest holding is still FTX Token, which accounts for 13.3 percent of total crypto holdings worth $1.2 billion. Shiba Inu, on the other hand, is ranked ninth among the top ten coins being purchased most actively right now.
Shiba Inu Gains Traction
Shiba has gained traction following the long-awaited listing by the popular Robinhood investment app earlier this month.
For nearly a week, the second-largest meme token by market cap has held the position of the largest token by USD value for the top 100 ETH whales, as well as being in the top ten list of the most purchased coins.
Shiba is currently trading at $0.00002549 on CoinMarketCap at the time of writing. Furthermore, SHIB smart contracts are expanding across exchanges. As previously reported by Coinscreed, the decentralized exchange Parex opens SHIB deposits and launches a SHIB/USDT trading pair today, April 20.
SHIB On-Chain And Market Data
According to WhaleStats, following the unexpected but long-awaited listing of Shiba Inu by the Robinhood trading platform, whale activity toward the coin gradually increased as interactions with the token increased alongside buying activity.
According to the token’s wallet-tracker page, whales were actively buying the token, causing increased usage of the Shiba Inu smart contract and making it the most used smart contract among the 2,000 largest Ethereum wallets.
Aside from high usage, market and on-chain metrics for Shiba Inu are also increasing, with the average balance on whale addresses increasing to 2.36 SHIB tokens and volume increasing by 436 percent to $53 million, as of April 17.
The more significant increase is the net flow of Shiba Inu on whale addresses, which has increased by nearly 500%, indicating that more tokens flowed into whale wallets than out, indicating large investors’ short- and mid-term bullishness.
Volume and balances on whale addresses are also important indicators of overall positive sentiment among large buyers.
Positive trends are also reflected in the value of the Shiba Inu holding, which recently increased to $1.3 billion, putting an old competitor, FTX token, in second place with $1.1 billion in tokens held by whales.
More Whales Buys Shiba Inu
According to the WhaleStats crypto tracker, a whale whose wallet is labeled “BlueWhale0073” purchased a total of 50,296,290,794 Shiba Inu on April 19. This is the same as $1,269,981.
The page of this investor’s wallet, however, shows that “BlueWhale0073” has sold the majority of his SHIB tokens by now. The second-largest meme cryptocurrency is both the top incoming and outgoing asset. Aside from Shiba, this #5 largest investor has recently bought and sold MATIC and LINK.
According to WhaleStats, almost four hours ago, Ethereum whale “Bombur” (ranked 19th on the WhaleStats scale of wallets) paid $1,269,191 for a total of 50,992,035,458 Shiba Inu.
This is this ETH whale’s second purchase of SHIB since April 10, when he purchased a similar amount—roughly 50 billion meme tokens.
Since April 10, three Ethereum chain investors—”Bombur,” “BlueWhale0073,” and the top whale “Light”—have amassed more than 1.71 trillion Shiba Inu. “Light” paid more than $7.5 billion for 331.8 billion canine tokens. The purchase was made in two installments.
