Shiba Inu has gained ground tremendously over the past week as its price continues to see double-digit gains. With this newfound momentum has come renewed interest from investors and Ethereum whales are notably taking advantage of SHIB’s growth during this time.
Ethereum Whales Boost Shiba Inu To Top Holding
The year 2022 actually saw the price of Shiba Inu fall over 80% from its all-time high, triggering immense bearish sentiment among its investors. During this time, the 5,000 largest Ethereum whales, who had collectively held over $ 1 billion worth of SHIB at one point, would reduce their holdings drastically. This saw Shiba Inu’s position as the largest token holding by dollar value among these large investors eradicated over time.