The SHIB token from the Shiba Inu ecosystem has once again become the most used smart contract by the 5,000 largest Ethereum whales, whalestats, This happened during a bullish rally across the entire crypto market spectrum, during which SHIB managed to add 8% to its price.
in bus: $SHIB @Shibtoken One of the most used smart contracts in the top 5000 #ETH Whales in the last 24 hours
Check out the top 100 whales here: https://t.co/kOhHps8XBB
(and hodley $bbw To see the data of the top 5000!)#shib #whalestats #babywhale #bbw pic.twitter.com/few1va2GDQ
— WhaleStats (free data on crypto whales) (@WhaleStats) 18 July 2022
Despite the fact that a broad sample of the 5,000 largest ETH wallets may confuse some with its scale and, therefore, its non-seriousness, SHIB remains the largest held asset among the top 100 Ethereum whales at the same time . Thus, it can be argued that the token is extremely widespread among both small and large ETH holders.
What’s the point of having so much SHIB on the whale’s side?
Discussions about what drives large holders of the main altcoin of the crypto market to buy SHIB have begun since the first such statistical data. Equally possible options are the desire to profit from the increase in the value of the token or to use SHIB as a means of payment. The latter may be even closer to the truth given the extremely active implementation of tokens by various payment systems, which allow the purchase of luxury goods and services, among others.
As for the price of the coin, the Shiba Inu also has several triggers. The main one, of course, is the long-awaited Shiberium, a second-tier blockchain solution that will expand the use of not only SHIB, but also other ecosystem tokens such as BONE and TREAT. Behind talking about Shibarium, a lot of people forget about the Shiba Inu team’s hard work on their SHIB: The Metaverse. So far, Shib Sena has had to be satisfied with the rendering of 3D models of future Metaverse characters, as well as announcements about the introduction of key figures into the entertainment field for the project’s team. However, this project is certainly worth considering when predicting both the price of the coin and the overall capitalization of the Shiba Inu.