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Shiba Inu, Chainlink Among Top 10 Purchased Tokens as Market Volatility Continues

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Mon, 12/06/2021 - 11:30
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Tomiwabold Olajide
In last 24 hours, Shiba Inu, Chainlink among top 10 most purchased tokens
Shiba Inu, Chainlink Among Top 10 Purchased Tokens as Market Volatility Continues
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According to WhaleStats data, Shiba Inu and Chainlink are among the top 20 most-purchased tokens in the last 24 hours. Following the sell-off on Dec.4, market volatility continued on Monday, with the majority of tokens losing value as of press time.

Bitcoin (BTC) and most altcoins had a major price dip on Dec. 4, with massive liquidations seen in derivatives markets. Likewise, market sentiment is presently at ''extreme fear'' as indicated by the crypto fear and greed index.

WhaleStats

Courtesy: WhaleStats

Despite this, contrarian investors have used this period to accumulate their favorite tokens, with SHIB and LINK coming up among the top 10 purchased tokens over 24 hours, as indicated by WhaleStats. WhaleStats tracks the 1,000 largest Ethereum wallets, referred to as “whales.”

Shiba Inu also places second among the top 10 holdings, falling behind Ethereum, which came up on top. This might suggest Shiba Inu hodlers have not given up much ground despite market volatility.

Although Shiba Inu and Chainlink remain down 8.27% and 9.58% at their current prices of $0.00003395 and $17.89 respectively, long-term investors' optimism, however, seems to be intact.

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About the author

Tomiwabold is a cryptocurrency analyst, technical analyst and experienced fund manager. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.