According to WhaleStats, the accumulation of the largest Ethereum (ETH) holders in Shiba Inu tokens has increased by 1.7 trillion SHIB over the past seven days. To date, the cumulative position size in the meme token of the hundred largest ETH whales is 5.79 trillion SHIB, equivalent to $50.84 million.
The trend for SHIB among large Ethereum holders continued today, with the token becoming one of the leaders in terms of trading volume among this group of investors. As detailed statistics from WhaleStats portal show, more of them are buying Shiba Inu tokens than selling them.
Are whales taking their profits?
The consolidation of large investors' positions in SHIB occurred along with the rise in the token's price. Over the past seven days, the price of the Shiba Inu token has risen by 9.5% and, at one point yesterday, by as much as 19%.
During this price peak, as reported by U.Today, the token quotes tested the upper limit of the range in which it had been in consolidation for the past two months. If the portal data is to be believed, SHIB transfers by big players took place during just this price action yesterday and also, interestingly, the day before.
Tomiwabold Olajide
Yuri Molchan