Whales pouring money into SHIB again

Shiba Inu, the "Dogecoin Killer" is whales biggest holding right now, as they keep pouring money in the memecoin.

According to WhaleStats, an Ethereum whale has bought 53 billion Shiba Inu tokens worth around $2,008,890 and added to its wallet.

Note that the average SHIB tokens held by large Shiba Inu holders are up 8% based on metrics provided by the whales' surveillance website.

Shiba Inu surged and now it is up about 10% in the last 24 hours. This comes as positive investor sentiment spread across the markets ahead of the holidays.

According to crypto analysts, Whale accumulation also seems to play a big part in Shiba Inu's jump from a monthly low of $0.00002820 since December 20.

However, SHIB increased from lows of $0.00002820 on December 20 to reach highs of $0.000040 on Christmas eve before retreating to where it presently trades at $0.00003850. This means Shiba Inu is still down nearly 60% from all-time highs.