• SHIB trending over the past week due to ETH whales.
• The top ETH Whales bought 500 billion SHIB for around $12 million.
• SHIB ranks currently in the top 10 most purchased tokens.

SHIB trended for more than one week. The Ethereum-based altcoin has been garnering attention from Ethereum’s top whales left and right – climbing up the ranks of the top 10 purchased ETH tokens, the most held ETH token, and the biggest token position by dollar value.

On April 25, ETH Whale “Bombur” bought 51,799,991,288 SHIB – almost 52 billion of the cryptocurrency token. “Bombur” spent $1,178,967 – almost $2 million on the SHIB purchase. WhaleStats ranks the crypto whale as #16.

ETH whale “Bombur” just bought 51,799,991,288 $shib ($1,178,967 USD).

Ranked #15 on WhaleStats: https://t.co/3ADbDHvWPW

Transaction: https://t.co/iGgIbrzEEA#SHIB #ShibArmy

— WhaleStats – BabyWhale ($BBW) (@WhaleStats) April 25, 2022

SHIB had been on top of all tokens for a few hours prior to this purchase. SHIB was worth more than $1.3 billion, and FTX came in second. The total worth of the FTX whales was more than $1.1 million. The third-most valuable whale species is the FTX. BEST (NYSE:) The total value for all ETH whales was more than $380million.

Hodling is the top activity of 2000 #ETH whales

$1,396,267,738 $SHIB$1,163,118,319 #FTX Token$380,769,176 $BEST$301,372,998 $MATIC$291,560,066 $OKB$270,222,893 $MANA$265,961,026 $LINK$248,555,472 $CHSB

Whale leaderboard https://t.co/R19lKnPlsK pic.twitter.com/Qqh1IliBrN

— WhaleStats – BabyWhale ($BBW) (@WhaleStats) April 25, 2022

These trends are good news for SHIB. Token prices will be more stable if there are more of them on the market. This also shows that SHIB Army values the token and is committed to it. The funds can be used to fund further SHIB projects, like Metaverse Lands.

Additionally, on the third week of April, the 5th largest ETH Whale “BlueWhale0073” bought a cumulative 420 billion SHIB worth $10 million collectively.

ETH whale “BlueWhale0073” just bought 193,419,098,244 $shib ($4,821,938 USD).

Ranked #5 on WhaleStats: https://t.co/RBupemZyZX

Transaction: https://t.co/dcjl0mldog#SHIB #ShibArmy

— WhaleStats – BabyWhale ($BBW) (@WhaleStats) April 18, 2022

SHIB was on the top 10 most purchased Ethereum tokens in that time period due to this first surge.

ETH whale “BlueWhale0073” just bought 223,761,580,609 $shib ($5,781,).

Ranked #5 on WhaleStats: https://t.co/RBupemZyZX

Transaction: https://t.co/v2U1IdkLjN#SHIB #ShibArmy

— WhaleStats – BabyWhale ($BBW) (@WhaleStats) April 15, 2022

The other side is that, despite whales buying a huge quantity of SHIB, this barely affects the total supply. SHIB currently has an incredible 549 trillion circulating supply, making the 500 billion only 0.09%.

This may be the beginning of a major surge by ETH Whales. Now, we’re seeing 500 billion worth of SHIB being bought in the span of a single week. Who knows how much more SHIB will be bought as a result of these Whales’ purchases?

If the SHIB Army receives hundreds of billions in SHIB every week at this pace, then that trillion barrier might be broken quickly.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. The information contained in this article shouldn’t be taken as advice. CoinQuora urges users to conduct their own research prior to investing in cryptocurrency.

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