Despite the Shiba Inu (SHIB) losing 90% of its value in the bear market, Ethereum (ETH) continues to be the focus of attention of whales. Whales added billions of Shiba Inu (SHIB) to their accounts during the declines.
The famous whale known as Gimli bought 386 billion Shiba Inu (SHIB) earlier this week. According to analysts, the metaverse project may be the main reason for this interest. Shiba Inu (SHIB) developers shared progress on their metaverse and GameFi projects last week. Accordingly, some explanations may come in the coming days for the game led by game designer William Volk.
According to WhaleStats, the two whales purchased 533 billion SHIB, worth a combined $3.5 billion. Gimli alone took 386 billion Shiba Inu (SHIB), while another whale named BlueWhale0159 added 147 billion SHIB.
Shiba Inu (SHIB) also remains the most bought altcoin by the biggest Ethereum investors. Besides SHIB, whales are also showing great interest in other altcoins such as FTX Token (FTT), Decentraland (MANA), and Polygon (MATIC). Despite whale purchases and updates, SHIB has not been able to avoid falling 12% this week.
Ethereum whales have also accumulated ApeCoin (APE), GALA, and Smooth Love Potion (SLP) this week. Whales have been showing great interest in the metaverse-based altcoin Ape Coin for the past two weeks. After this interest, ApeCoin tested the $ 7 level. Ape Coin price slumped to $5.54 after the last correction.
Although GALA, which gained value with ApeCoin, rose to $ 0.60, it fell to $ 0.48 with the last correction. GALA was one of the top losing cryptocurrencies during the bear season. GALA, which was among the top 50 for a period according to its market value, dropped to 111th place in the ranking. Smooth Love Potion (SLP) is a token used on the Axie Infinity metaverse platform.