Shiba Inu is the most traded crypto among the top 100 ETH whales

[ad_1]

Data from WhaleStats shows that SHIB was the most bought token among the top 2000 ETH whales. SHIB is also expected to welcome massive retailer interest in 2023.

Despite the bearish trading in the market, the Shiba Inu Memecoin (SHIB) continues to enjoy popularity among large Ethereum investors.

This was noted by WhaleStats, a platform that tracks the top 5000 Ether (ETH) wallets. According to data from WhaleStats, SHIB entered the top 10 most bought tokens of the top 2000 ETH whales on December 29.

JUST IN: $SHIB @Shibtoken now in the top 10 tokens bought from the top 2000 #ETH whales in the last 24 hours

Check out the top 100 whales here: https://t.co/R19lKnPlsK

(and hodl $BBW to see top 2000 data!)#SHIB #whalestats #babywhale #BBW pic.twitter.com/ERo2CK30RN

— WhaleStats (crypto whale tracking) (@WhaleStats) December 29, 2022

The latest data from the platform shows that SHIB is currently the most traded token of the top 100 wallets. These 100 entities collectively hold 20% of SHIB’s total outstanding supply. Their average SHIB balance is 1.9 billion SHIB tokens worth around $16.3 million.

The data indicates a massive drop in whale buying activity. Meanwhile, the trend has strengthened in recent months amid declining interest from retailers according to data from Santiment.

Follow us for the latest crypto news!

However, whale activity has dampened SHIB’s bearish momentum over the past few days. Over the past 24 hours, the price of SHIB has increased by 1.58%, trading at around $0.0000082. This comes after the token fell 6.11% in the two-week chart.

If whale activity continues and large amounts of capital continue to flow into the SHIB market, the token could reach new highs. Already, the 90-day SHIB MVRV ratio indicates that recent buyers near current lows are already in profit after a slight rebound.

Will SHIB see more interest from retailers in 2023?

SHIB could also see bullish momentum from retail investors in 2023. This is due to the massive retail-focused projects being worked on by developers in the Shiba ecosystem.

Projects slated for launch in 2023 that could drive retail adoption include Shibarium and SHIB: The Metaverse. Shibarium, the ecosystem’s Layer 2 scaling solution, will make SHIB transactions cheaper and faster than ever. Speculation has emerged that the L2 is ready and waiting to launch at the right time in 2023.

The developers have also provided the community with a series of updates on the progress of SHIB: The MV. These concept art drops and previews keep the community anticipating the launch of the virtual world powered by SHIB.

Meanwhile, the ecosystem has continued to make bullish partnerships in the real world. SHIB has been added as a payment option on several crypto-fiat payment gateway platforms. Last month, it was integrated into Guarda Wallet’s prepaid Visa card offering.

Prepaid cards can now be topped up with Guarda Wallet users’ SHIB holdings. Cards can be used at millions of stores worldwide that accept Visa payments. In similar moves, FCFPay and Travala also announced SHIB integrations. Meanwhile, the World Economic Forum (WEF) is looking to partner with the Shiba ecosystem to develop policies related to the metaverse.

[ad_2]