Stephanie Douse 
The Biggest Ethereum (ETH) wallets appear to be taking advantage of a buy the dip opportunity. This time, the whales have chosen the popular meme cryptocurrency Shiba Inu(SHIB).
ETH whales have amassed almost 393 billion SHIB tokens in the last 24 hours. While the price of SHIB has not changed as a result of this change, its 24-hour trading volume has increased by over 20%.
SHIB is currently down 14% over the past seven days trading at $0.00002283, evaluating broader losses in the crypto market as investors feared rising inflation and a hawkish Federal Reserve.
ETH whale “Light” acquires 331 billion SHIB tokens
The two Ethereum whales teamed up in a mission to seize billions of SHIBs. A whale named “Light” has purchased around $7.56 million worth 331.9 billion Shiba Inu tokens. Another whale named “BomBur” has also added $1.39 million worth of SHIB or 61.3 billion tokens.
Shiba Inu has risen to the top of the list of top 10 tokens purchased by the top 100 ETH wallets in the last 24 hours as a result of this accumulation. The coin is now ranked 7th. Meanwhile, the meme coin has also landed on the list of top tokens purchased by Ethereum whales in the last seven days. The list of top 10 tokens sold in the last 24 hours and 7 days, however, doesn’t carry the SHIBs name.
However, the data shows that whales’ top preferences are stable coins in this type of market situation. Looks like whale wallets are preparing to purchase additional dips.
“Light.” holds over $763 million worth of SHIB tokens
Light has $763 million worth of Shiba Inu tokens, according to data. This might be one of any SHIB holder’s biggest holdings.
Recently, Shibu Inu replaced the FTX token to become the largest token held by the top 100 ETH whales in terms of dollar value. The top Ethereum wallets hold more than $1.19 billion worth of SHIB tokens.
Shiba Inu prices have followed the fall in the price of Bitcoin (BTC). But despite the token’s decline, its 24-hour trading volume of $774 million has increased by 20%. The Shiba Inu is listed among the top ten most widely utilized smart contracts on ETH whale’s list. The SHIB is still the second-largest meme cryptocurrency, according to CoinsMarketCap, with a total market capitalization of over $12.5 billion.