Are Ethereum Whales still bullish?

Feb 26, 2022

As per the data released by Whalestats, ETH Whale, the “Light” wallet, purchased 49,998,916,299 Shiba Inu (SHIB) tokens, worth $1,211,473. Whales were using the dip to pocket their top coins, and Shiba Inu happens to be a favorite.

With Russian troops storming into Ukraine, the world was clouded with a lot of uncertainty. And Russia’s actions are costing everyone dearly.

The crypto market witnessed a bloodbath, with prices plummeting for every major token. However, as some believe, every crash offers an opportunity for growth, or to simply put, “buy the dip”.

That is exactly what the big whales have been doing. With prices volatile, the “Light” wallet, one of the biggest Ethereum Whales, went on to use the dip and make big purchases.

Are Whales bullish on Shiba Inu? Shiba Inu is a popular cryptocurrency among Binance Smart Chain [BSC] and Ethereum [ETH] whales, hence it is of no surprise that they are using the dip in prices to stock up on more Shiba Inu (SHIB) tokens.

Shiba Inu is down 15.3% over the 7-day chart but saw a 9.5% increase over the last 24 hours. Although the market is still on a bearish curve, whales are not in a state of panic just yet.