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Ethereum whales accumulate billions in Shiba Inu as SHIB adoption grows

Ethereum whales accumulate billions in Shiba Inu as SHIB adoption grows

Cryptocurrency whales have accumulated billions in Shiba Inu (SHIB) tokens after adoption of the meme-inspired cryptocurrency grew thanks to a listing on cryptocurrency exchange Kraken, its planned entry into the gaming world and the Nasdaq listing of retailer Newegg adding SHIB as a payment method.

As first reported by DailyHodl, data from the WhaleStats platform shows that Ethereum's top 100 wallets, which hold the meme-inspired cryptocurrency, have seen their balance grow by more than 40 percent in 24 hours to more than 2.5 billion tokens. Whales began accumulating more SHIB after Kraken finally announced the listing of the cryptocurrency after teasing its community earlier this month by effectively increasing its liquidity. Similarly, Newegg's addition of SHIB as a payment method gives holders more options for what to do with the token. A more significant catalyst, however, may have been the hiring of gaming industry veteran William Wolf by the Shiba Inu team to lead the organization's push into the gaming industry. The pseudonymous project leader, Shitoshi Kusama, wrote in a post on Medium that the team has a new gaming division –Shiba Inu Games –that has hired Wolf to lead the design and implementation of a new game being developed by “AAA Game Studio”.

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