Top Ethereum Whales Grab Shiba Inu Ahead of Shibarium Launch

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• Ethereum network’s largest whales continue accumulating Shiba Inu.
• SHIB enters the top 10 most purchased tokens list among 2000 top ETH whales.
• SHIB burn rate continues to rise.

Ethereum whales are buying up large amounts of Shiba Inu (SHIB), driving up the price. The community anticipates a dramatic increase in SHIB burn and utility on the chain in 2023, as both the core devs and the Shiba Inu Ecosystem hint at the imminent debut of the Shibarium Layer-2 blockchain.

Shibarium is an upcoming layer-2 solution that seeks to improve the Shiba Inu ecosystem by, among other things, enabling speedier transactions at a reduced cost. As the upcoming upgrade edges closer to launch, Shiba Inu has become popular among Ethereum whales.

On December 29th, SHIB entered the top 10 most purchased tokens of the 2000 largest Ether (ETH) whales, as reported by WhaleStats, a platform that counts the top 5,000 largest Ether (ETH) wallets. Together, 100 entities control 20% of all SHIB in circulation. Their average SHIB holdings are valued at about $16.3 million, or 1.9 billion SHIB tokens.

One of the biggest Shiba Inu whales had transferred about 2 trillion SHIB to its balance, which amounted to $22 million at the time of acquisition. This took place in a single day, and according to the available data, the wallet in qu ...

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