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Shiba Inu is the most used smart contract among the largest ETH wallets

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After the highly anticipated listing of Shiba Inu by the Robinhood trading platform, WhaleStats data show that the activity of the whales in relation to the coin gradually increased, because in addition to the buying activity, the interaction with the token also increased.

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According to the token wallets tracker, whales actively bought the token, which led to an increase in the use of the Shiba Inu smart contract and became the most widely used smart contract among the 2000 largest ETH wallets.

In addition to high use, the market and performance in the Shiba Inu chain is also on the rise, with the average balance of whales rising to 2, 36 billions SHIB tokens and volume increased of 436% to $ 53 million.

A more important increase is the net flow of Shiba Inu to the address of whales, which increased by almost 500%, which indicates that more tokens flowed into whale wallets than from them. And this testifies to the short- and medium-term optimism of large investors.

Both whale volume and balance are also important indicators that reflect positive sentiment among large buyers. The positive trend is also reflected in the value held by Shiba Inu, which recently rose to $ 1 billion, putting the old rival FTX token in second place with a $ 1.1 billion token held by whales.

Unfortunately for most investors, SHIB is unable to recover even a small portion of the losses incurred since November 2021. At the time of printing, Shiba Inu is trading at $ 0.000025, well below ATH at $ 0.000088.

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All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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