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Whale movements on Shiba Inu gained traction after June 2021, when Ethereum’s 1,000 richest list began buying huge amounts of SHIB tokens. Between August and November 2021, there was news about giant whale purchases almost every 2 days.
The trend also continued in 2022 and SHIB is considered a top investment among the ETH rich list. From the famous ‘Gimli’ whale to the ‘Light’ and ‘Jiraiya’ whales, all of them have billions of SHIB in their portfolio.
If you are wondering why the top 1000 Ethereum whales are buying Shiba Inu. Below is his response:
1. Hoping for wider adoption
Surprisingly, the Shiba Inu is being accepted by various companies around the world and is slowly being introduced to the general public. In December 2021 alone, 10 different companies accepted SHIB as legal payment on their payment pages. SHIB is also among the most talked about cryptocurrencies in the world with the meme token dominating the headlines of major news channels.
Continued development like this can turn the meme coin into a phenomenon. SHIB’s larger-than-life conundrum may spark a sense of “fear of missing out” among investors. FOMO would cause many more people to dump their investments into SHIB. This gives the whales an additional advantage in selling their holdings as the price rises after more investments are poured into the token.
2. Metaverse opportunity
The metaverse is touted as the future and could be worth $1.5 trillion by 2030, according to the Grayscale report. A handful of Fortune 500 companies have started pouring their investments into the metaverse, Web3, and the gaming ecosystem. Shiba Inu is also in the league, having announced his own metaservo segment, Shiberse.
Entering the metaverse sphere early could prove beneficial for SHIB price and ETH whales are betting on it. The metaverse could be a game changer for the Shiba Inu and could sustainably increase their price. Additionally, SHIB has also positioned itself to release its in-house games in collaboration with PlaySide Studios and AAA Studios.
Play2earn games on Web3 and the metaverse could be profitable in the long run. Furthermore, the whales are fully aware that Shiberse may bring additional value and increase the price of em tokens in the near future.
3. Robinhood listing rumors
It’s no surprise that even Ethereum’s top whales are eager to see Robinhood listing Shiba Inu on their platform. In fact, ‘Hello Robinhood, when SHIB?’ The tweets reached a high point between October and November 2021 and the whales bought loads of SHIB during that period.
A Robinhood listing could do wonders for the price of SHIB as it would open the floodgates of new users to the meme coin. Robinhood currently has around 14 million active users and a listing would increase SHIB’s trading volume. ETH whales stand to gain as the price could skyrocket once the announcement is made.
Yesterday, the Shiba Inu surged 50% and its market capitalization now stands at a staggering $18.5 billion. At press time, the Shiba Inu was trading at $0.00003057 and is down 5% in 24-hour trading.
