Why Are Ethereum Whales Buying Shiba Inu?

Follow the money. When big investors begin buying an asset, you'll want to take note. And that's what appears to be happening in the cryptocurrency market.

Investors who own large quantities of a cryptocurrency are known as crypto whales. It's not surprising that there are plenty of Ethereum (CRYPTO: ETH) whales since Ethereum is the second-largest cryptocurrency based on market cap.

What might be surprising, though, is that Ethereum whales are buying another cryptocurrency. Several of the top 1,000 holders of Ethereum have been scooping up Shiba Inu (CRYPTO: SHIB), according to the whale-tracking website WhaleStats. But why? Here are three likely reasons.

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Source Fool.com