According to WhaleStats, the accumulation of the largest Ethereum (ETH) holders in Shiba Inu tokens has increased by 1.7 trillion SHIB in the last seven days. As of today, the cumulative position size in the meme token of the 100 largest ETH whales is 5.79 trillion SHIB, equivalent to $50.84 million.
The trend for SHIB among large Ethereum holders continued today, with the token becoming one of the leaders in terms of trading volume among this group of investors. As detailed statistics from WhaleStats show, more of them are buying Shiba Inu tokens than selling them.
Are the whales taking their profits?
The consolidation of large investors’ positions in SHIB has occurred along with the rise in the token’s price. Over the past seven days, the price of the Shiba Inu token has gained more than 9.5% and at one point yesterday, as much as 19%.
During this price spike the token’s quotes tested the upper limit of the range in which it had been consolidating for the past two months. If portal data is to be believed, SHIB transfers by large players took place during this price action yesterday and also, interestingly, the day before.