Shiba Inu (SHIB) ranked as the most held token in whale addresses, with $1.7 billion in tokens held by investors on the Ethereum network.
The meme token Shiba Inu has also rebounded strongly as the altcoin market started to recover. The Shiba Inu gained about 50% of its value after reaching its base price.
Although the rise in the Shiba Inu price did not take the token to new highs, it was enough to keep the asset above $0.00003 as investors stopped selling pressure.
Whales also decided to accumulate more tokens with this rise of the Shiba Inu. Along with this, another Shiba Inu whale has emerged that has purchased 3.4 trillion SHIBs worth more than $115 million.
While the Shiba Inu was the most invested asset with $1.8 billion held by whales yesterday, the value of the holdings decreased to $1.7 billion due to market fluctuations.
According to open interest data, despite Bitcoin’s rise to $45,000 and the overall altcoin market recovery, most investors still think the bear trend will continue.
At the time of writing, the Shiba Inu is up 3.57%, trading at $0.00003363, according to data from CoinMarketCap.
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