- Large Ethereum whales hold a whopping 282.79 billion Shiba Inu coins worth $3.09 million in their wallet.
- Ethereum whale identified as Galion accumulated a total of 272 billion Shiba Inu coins worth $3 million in two separate transactions overnight.
- Analysts have set a bullish target of $0.00001401 for Shiba Inu if the meme coin continues its uptrend.
Large wallet investors on the Ethereum network are keen on accumulating Shiba Inu. The 130th largest Ethereum whale scooped up 272 billion Shiba Inu coins overnight. Analysts retain a bullish outlook on the altcoin.
Also read: Where Bitcoin, Ethereum prices are headed as correlation with S&P 500 declines
Galion swallows up 272 billion Shiba Inu in two transactions
The 130th largest whale on the Ethereum Network has swallowed up 272 billion Shiba Inu (SHIB) worth $3 million. Typically, large wallet investors have purchased Shiba Inu ahead of a massive rally in the meme coin.
Based on data from WhaleStats, “Galion” has just accumulated a staggering total of 272,000,000,000 SHIB, in two separate transactions in the past 24 hours. The trader was active over 8 hours ago and added 100 billion Shiba Inu in the first transaction and 172 billion in the second. The average price of purchase was $0.0000109.
ETH whale "Galion" just bought 99,999,999,999 $shib ($1,102,999 USD).
— WhaleStats (tracking crypto whales) (@WhaleStats) September 27, 2022
Ranked #130 on WhaleStats: https://t.co/KAYTBPYgGA
Transaction: https://t.co/SprX5HSqb3#SHIB #ShibArmy
Shiba Inu flipped Basic Attention Token to become most traded token
Among large wallet investors on the Ethereum blockchain, Shiba Inu has flipped Basic Attention Token (BAT), a widespread blockchain-based medium of exchange used by advertisers, publishers and users of content, in trade volume terms. Shiba Inu is now the most widely traded cryptocurrency among deep-pocketed Ethereum whales.
JUST IN: $SHIB @Shibtoken flipped $BAT for MOST TRADED token among top 100 #ETH whales
— WhaleStats (tracking crypto whales) (@WhaleStats) September 27, 2022
Check the top 100 whales here: https://t.co/N5qqsCAH8j
(and hodl $BBW to see data for the top 5000!)#SHIB #BAT #whalestats #babywhale #BBW pic.twitter.com/60FMjAI6dM
Despite these bullish developments and the upcoming launch of Shibarium, the layer-2 scaling solution, Shiba Inu price continues to struggle. The meme coin has failed to make a recovery and yielded nearly 4% losses overnight.
Analysts at FXStreet, however, remain bullish on Shiba Inu. Tony Montpeirous, leading technical analyst at FXStreet believes that if the market is genuinely bullish, Shiba Inu price rally to the September high at $0.00001401 is likely. This would imply a 20% gain on Shiba Inu’s current price.
If the uptrend is invalidated, Shiba Inu could plummet to $0.00000800 and bears would effectively take control of the Dogecoin-killer asset. This marks a 30% decrease from the current price.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Bitcoin, Ethereum prices seesaw ahead of the Fed’s decision on rate hike

The US Federal Reserve is expected to raise interest rates while facing the tough task of tackling the banking crisis. Economists expect the central bank to increase its target rate range to 4.75% -5%, although there is a debate as some believe the Fed will not raise its rates at all. Bitcoin price rally steadied above the $28,000 level after yielding nearly 15% gains over the past week.
Aptos Price Forecast: This key level will determine if APT will rally 20% or crash 40%

Aptos price lacks directional bias as it consolidates below a critical hurdle. This level is key in determining where APT will head next. Investors need to wait for confirmation before making their decision. Aptos price rallied 554% between December 30, 2022, and January 26, 2023. This massive uptrend set up a local top at $20.40, resulting in a reversal that pushed APT down by 52%.
These altcoins could yield massive gains after Cardano and XRP prices rally this alt season

While large market capitalization assets Bitcoin and Ethereum hold steady, altcoins like Cardano and XRP have yielded double-digit gains overnight. Crypto experts believe Bitcoin’s rising dominance signals the popcorn effect is close, gains will continue spilling over in altcoins like Cardano (ADA) , XRP and Cosmos Hub’s ATOM.
XRP price tags $0.49 as Ripple bulls make a comeback

Ripple, one of the largest altcoins by market capitalization, witnessed a massive run up to the $0.49, ahead of the US Federal Reserve’s rate hike decision. The recent updates in the SEC v. Ripple lawsuit and the banking crisis have turned market participants bullish on XRP and cryptocurrencies.
Weekly Recap: Bank runs, stablecoin drama, Voyager bankruptcy hearing, threat to DOX Shiba Inu founder

US bank runs sent shockwaves through market participants, traders turned to Bitcoin and the “safe haven” narrative made a comeback. Binance’s $1 billion acquisition of bankrupt crypto lender Voyager is back on track with a ruling from a New York bankruptcy judge.