3 Reasons Why Some Ethereum Whales Constantly Purchase Shiba Inu Tokens
Following another huge buy of 50 billion Shiba Inu tokens, it is important to break down why exactly Ethereum whales or simply large cryptocurrency market participants are constantly buying up to trillions of SHIB tokens worth millions of dollars.
Read Also: 50.3 Billion SHIB Bought by This Whale as SHIB Becomes Most Used Smart Contract
Whales are trying to take control over the token
According to WhaleStats, Shiba Inu remains the biggest USD-valued position among Ethereum whales with large wallets holding approximately $1.3 billion worth of SHIB. The desire of whales to take control over the asset's circulation on the market explains such strong dominance.
Usually, a high concentration of supply in the hands of whales is taken "bullish" by crypto enth...