Mysterious Ethereum whale transfers $34 million worth of Shiba Inu (SHIB)

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Shiba Inu

The Shiba Inu's SHIB token has emerged as one of the most popular coins to hodl among Ethereum whales.

ETH whales have also been scooping up large amounts of the Shiba Inu ecosystem's second most popular token BONE.

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On October 18, a mysterious crypto whale transferred 3 trillion SHIB tokens worth $34 million.

Whale transfers $34 million worth of SHIB

The ongoing crypto winter is yet to deter Ethereum whales from purchasing or shifting large amounts of SHIB. According to data from WhaleAlerts, one mysterious whale has recently transferred 3 trillion ($34 million) worth of SHIB tokens.

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According to data acquired from WhaleStats, Shiba Inu is the second most-held token among the top 100 Ethereum whales.

In addition, Shiba Inu's BONE has attracted much interest from Ethereum whales. As per WhaleStats, BONE is one of the most used smart contracts among the top 1000 Ethereum wallets.

Why are whales keen on Shiba Inu (SHIB)?

There are many reasons why some whales are showing interest in the Shiba Inu ecosystem. One reason could be the highly anticipated launch of Shibarium, a layer 2 blockchain network backed by Shiba Inu.

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In addition, the Shiba Inu team has recently launched its highly anticipated video game, Shiba Eternity, which reached over 100k downloads on Google Play.

Another clue could be the anticipation of SHIB: The Metaverse. Although no release date has been confirmed, Shiba Inu's metaverse project is highly anticipated in the Shiba Inu community.

Shiba Inu's metaverse development has necessitated the expansion of the Shiba Inu team.

Some whales may be anticipating a SHIB price rally soon given the ecosystem's "fervent" following, but nothing is guaranteed.

Get the latest on Shibarium, Shiba Eternity Dojo Masters and SHIB: The Metaverse.