Ethereum Whales Continue Shiba Inu Buying Spree As Average Holdings Cross $57M

The largest Ethereum ETH/USD wallets bought a significant amount of Shiba Inu SHIB/USD over the weekend.

What Happened: According to data from Whale Stats, the average SHIB balance among the top 100 SHIB holders is now over 2.36 billion tokens.

The coin saw net inflows of over $50.4 million SHIB on Sunday, representing a 480% surge over 24 hours.

SHIB also recorded a 430% uptick in trading volume on the day as it breached $53 million. 

See Also: How To Buy Shiba Inu Coin (SHIB)

As per the most recent data, the collective value of the 2.36 billion SHIB tokens held by whales now exceeds $57 million in value.

What Else: Shiba Inu’s three-day metaverse land bidding event came to an end over the weekend.

Unacceptable @Shibtoken LAND launch. Due to your overbidding function Whales win once again. Loyal holders should have at least been compensated within final bid sale for all lost fees. Catastrophic start to a Metaverse launch. I for one will definitely not be participating now

— buckeroo00 (@KevinRo45568223) April 16, 2022

Some holders complained that they were priced out of the bidding auction because Whales were able to overbid to secure their land.

Price Action: According to data from Benzinga Pro, SHIB was trading at $0.00002419, down 6.11% in the last 24 hours.