Whales Are Increasingly Investing in Shiba Inu

Meme cryptocurrency Shiba Inu (SHIB) is one of the most popular tokens among Ethereum whales.

According to WhaleStats, the amount of transactions with SHIB involving the largest ETH addresses has increased by 640%. The number of active wallets has jumped by 57% in the last 24 hours alone.

The company researchers ha noted that today’s 3% rebound of the token was the result of a surge in whale activity.

However, in weekly terms, the value of the crypto has actually fallen by 12.84%. Notably, last night, the price of SHIB was $0.00001079, whereas its capitalization stood at $5.927 billion.

The 1,000 largest Ethereum whales have made transactions with SHIB for a total amount of up to $641.196 million per day.