Wealthy Crypto Traders Are Pouncing on Shiba Inu (SHIB) and Several Additional Altcoins As Markets Bounce Back

Some of the wealthiest crypto investors in existence are pouncing on meme coin Shiba Inu (SHIB) and four other altcoins as the digital asset markets show signs of strength.

According to whale-monitoring platform WhaleStats, Shib Inu is back within the top 10 most purchased altcoins in the last 24 hours by the top 1,000 non-exchange Ethereum whales.

The dog-themed meme crypto is currently ranked eighth with an average purchase amount of $2,054.

In addition to Shiba Inu, the largest Ethereum whales are also scooping up decentralized oracle network Chainlink (LINK), Ethereum scaling solution Polygon (MATIC), smart contract platform Fantom (FTM) and decentralized exchange Uniswap (UNI).

Other coins on the list include stablecoins USD Coin (USDC) Tether (USDT) and Dai as well as Ethereum itself.

One of the biggest altcoin buys this week includes a purchase from the richest Ethereum whale in the world. The deep-pocketed investor recently bought 49.99 billion SHIB worth about $1.20 million, according to WhaleStats.

Another whale, ranked within the top one thousand richest entities, was spotted scooping up 2.5 million of Ethereum-scaling solution Polygon (MATIC) worth about $3.50 million

In another whale sighting, the fourth-richest entity on the Ethereum network was glimpsed buying 3 million FTM worth about $4.47 million. The same whale was also caught devouring 300,000 Chainlink worth $3.67 million.

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Featured Image: Shutterstock/delcarmat/WindAwake

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