Main navigation

Shiba Inu Token Becomes One of Most Actively Purchased Token in Last 24 Hours

Thu, 04/14/2022 - 10:37
article image
Arman Shirinyan
SHIB is now one of the most actively purchased cryptocurrencies on the market
Shiba Inu Token Becomes One of Most Actively Purchased Token in Last 24 Hours
Cover image via

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Read U.TODAY on
Google News

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 rise in social volume, large traders have purchased a significant amount of tokens, which made SHIB one of the most purchased assets among Ethereum whales in the last 24 hours, per 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.

Source: WhaleStats

As for the biggest USD position among the 500 largest wallets on Ethereum blockchain, Shiba Inu is still holding first place, beating FTX Token, stablecoins and wrapped Bitcoin. Total SHIB holdings by whales are valued at $1.4 billion, which is the highest value of tokens held by whales since the beginning 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 performance on the market remains stagnant as the 20% pump after the listing news was not nearly enough to cover the losses the token suffered in 2022.

Bitcoin Price Could 10X in Two Years, Peter Brandt Says

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.

article image
About the author

Arman Shirinyan is a trader, crypto enthusiast and SMM expert with more than four years of experience.

Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future. Currently, he focuses on news, articles with deep analysis of crypto projects and technical analysis of cryptocurrency trading pairs.