Shiba Inu moves closer to largest holding in whale addresses after 16% price increase

Despite the market’s dubious performance in the last few weeks of the year, Shiba Inu was able to bounce back from the deep correction with a price increase of 16%, bringing it extremely close to the top spot among the largest positions in the market. the 1,000 largest Ethereum addresses.

First place on the Whale Statistics tracker is currently held by FTT token with $1.5 billion concentrated in whales’ wallets. At the same time, approximately $1.2 billion worth of Shiba Inu token is held by the largest Ethereum addresses.

Source: Whale Statistics

As for the token’s market performance, Shiba Inu has followed the general trend in the cryptocurrency market by continuously updating local lows so far. While most cryptocurrencies in the market are showing murky signs of reversal, SHIB has suddenly experienced a 16% rise in price.

The jump in value can be considered higher than average due to the asset’s relatively low volatility after the large correction of 60% of its ATH. Previously, the average daily volatility of Shiba Inu was around 2%, which is an extremely low value compared to the October price action.

Whales’ Interest in Shiba Inu

Despite the negative price action on Shiba Inu, whale addresses have always been interested in the meme-based token as sudden buying power with volumes over $5 million constantly appeared on SHIB’s way down.

The most recent purchase was made in December by an anonymous whale. An Ethereum whale has added four trillion SHIB tokens worth about $136 million.

At the time of writing, Shiba Inu is trading at $0.000022 and is going through a 16% price increase according to CoinMarketCap.

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