In November, there was a full-blown meme cryptocurrency frenzy in the market. During the bull run led by Shiba Inu (SHIB), SHIB hit all-time highs at $0.00008845. After Shiba, which saw this level, meme cryptocurrencies, especially DOGE and FLOKI, started to attract more attention.

Unable to hold onto all-time highs, the Shiba Inu tumbled 57.80%. The meme cryptocurrency has started to recover after the crisis on Saturday and has gained 5.85% in the last 24 hours.

SHIBA INU to USD Chart

Whales See SHIB Drop as Opportunity

In Shiba Inu (SHIB), which dropped to $0.00002914 on Saturday, two large whales saw this drop as a buying opportunity. “Tsunade” known as a big Ethereum whale bought 72,266,047,517 Shiba Inu tokens worth $2,591,460. This big whale wallet is ranked 6th on WhaleStats. It has 1,831,517,309,563.27 Shiba Inu tokens worth $68,444,758.

Another Ethereum whale “Gimli” bought 28,236,296,316 Shiba Inu tokens worth $1,169,829. This big Ethereum whale is ranked 256th on WhaleStats. Gimli currently holds 1,234,364,010,060.88 Shiba Inu tokens worth $45,898,447.

According to whale holdings in the top 1,000 Ethereum wallets, Shiba Inu maintains the largest position among whales with $2 billion in tokens currently held. The whales' bottoming is signaling that a new Shiba Inu bull run is about to begin.