While the correction in the crypto market deepened to 20%, Bitcoin and most major altcoins were cut in half from ATH levels. Current Whalestats data shares that smaller positions like the popular meme token Shiba Inu (SHIB) are attracting more trader attention. In this article, we take a look at the 2 altcoin projects that whales are buying the most in the current market crash.
Shiba’s address activity grows
In addition to many individual investors, Shiba Inu has seen an 88% increase in active addresses, according to WhaleStats, which tracks the 1,000 largest Ethereum whales. This increase in wallet activity may indicate that institutional funds have started trading or are preparing for another manipulation. Shiba’s price action is also triggering increased selling activity, according to analyst Tomiwabold Olajide. According to TradingView data, the Shiba Inu has lost about 15% of its value in the last four days.
Shiba Inu whales are buying more
Ahead of the deepening market correction in January, Shiba Inu whales declared war on the FTX Token (FTT) to maintain the meme token’s first-line position. Prior to the process, Shiba’s dominance in whale wallets dropped to 5%, placing FTT’s position as the largest whale on the Ethereum network to the top. Currently, with support of $300 million, SHIB continues to lead with $1.7 billion (14.74%).
Altcoin whale adds $10M to MATIC position
Another WhaleStats notification during the day, 20 million already in your wallet The whale with MATIC was a purchase of 4.84 million MATIC worth $10.8 million. The data shows that the whale, which has a total balance of $42 million, preferred MATIC. The Polygon trend of large wallets can be attributed to the project’s final ecosystem roadmap.
cryptocoin.com As we reported, Polygon shared the first news that it will grow its ecosystem in the past months and hosted 7,200 new developers in December 2021 alone. The altcoin project currently has more than 10 million unique active users, indicating growth in utility.
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