Over $600,000,000 in Shiba Inu (SHIB) Now Held by Largest Ethereum (ETH) Whales, According to WhaleStats The Daily Hodl
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Fresh data shows the world’s biggest Ethereum (ETH) whales are hoarding meme coin Shiba Inu (SHIB) at an average value of over $3.6 million each.
The latest numbers from WhaleStats reveal the investment behavior of the 100 wealthiest non-exchange Ethereum addresses.
The whale-monitoring website shows the average Shiba Inu holdings are 463.5 billion SHIB tokens valued at $3,678,367, making SHIB the biggest altcoin holding among Ethereum whales, other than ETH itself and a pair of stablecoins.
The whale wallets are also keen on FTX Token (FTT), native asset of the popular FTX cryptocurrency exchange, with an average quantity of 140,652 tokens priced at $3,241,466.
Another crypto asset popular among the richest 100 ETH wallets is Bitpanda Ecosystem Token (BEST) as the investor group holds $1,744,057 worth of the token on average, good for a sixth-place finish.
Next up is CHSB, the native token for cryptocurrency wealth management platform SwissBorg. On average the whales hold over 6 million tokens for a total value of $1,103,966.
The crypto whale tracker also shows rich Ethereum investors are amassing crypto exchange MXC for $1.1 million, and wrapping up the top-10 is 3D virtual reality world Decentraland (MANA)to the tune of $818,039 for 1,039,782 MANA tokens.
The top three spots were held by Ethereum and then US Dollar Coin (USDC) and Tether (USDT), two stablecoins aiming to peg their value to the US dollar.
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Featured Image: Shutterstock/Sergey Nivens/karnoff
The crypto market has been in a sorry state for several months now. Meme tokens like Shiba Inu (SHIB) took the worst blow following the crypto crash.
Despite that, Ethereum (ETH) whales have played on this crypto plunge, and it appears that Shiba Inu (SHIB) turned out to be the top choice of the giant ETH whales.
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ETH Whales On A SHIB Buying Spree
With Dogecoin or the dog-themed meme coins rising in popularity in 2021, Shiba Inu has failed to scale or get some traction this year.
SHIB, which is dubbed the most searched crypto of 2021 compared to BTC, has had a dismal dip. The coin’s prices have shed 52% of its value, as seen in the past two months. ETH whales have been pooling in the market and trading despite turbulent conditions.
JUST IN: $SHIB @Shibtoken has flipped #FTX Token for biggest holding by dollars among top 500 #ETH whales
Peep the top 100 whales here: https://t.co/tgYTpOm5ws
(and hodl $BBW to see data for the top 500!)#SHIB #FTX Token #whalestats #babywhale #BBW pic.twitter.com/u2OHdVqu2G
— WhaleStats – BabyWhale ($BBW) (@WhaleStats) May 24, 2022
According to WhaleStats, SHIB has now outranked the FTX token (FTT) in terms of average quantity held in the top 10 holdings with 467,912,829,017 compared with 301,753 for FTX.
Considering that the ETH whales have held the FTX token for the longest time, the shift was astounding.
WhaleStats disclosed that the top 100 ETH wallets currently hold roughly $543 million of SHIB. That said, SHIB holding has dramatically increased to as much as $259 million.
Remarkably, SHIB has plunged by 6% in the past 24 hours, trading at $0.000012. The recent price drop of SHIB supports the ETH whales’ bulk splurge. SHIB has a market cap of $6.4 billion.
SHIB total market cap at $6.51 billion on the daily chart | Source: TradingView.com
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Capitalizing On Shiba Inu Metaverse Hype
SHIB has welcomed Marcie Jastrow to the team to advance with their Metaverse dream.
Jastrow’s extensive experience of over 20 years in the glitz and glam of the entertainment industry for Technicolor and other brands can help SHIB attain that top-notch immersive experience for their users.
Shiba Inu is the most searched crypto last year (Cointribune).
On March 8, WhaleStats also announced that SHIB holdings at $1.4 billion at that time overtook FTT holdings of $1.36 billion. The top ETH whales hold as much as $1.4 billion worth of SHIB.
Ethereum whales have pivoted to a bullish stance with the Shiba Inu metaverse hype. The coin’s price has always been downtrend since its all-time high in October.
Featured image from Cointribune, chart from TradingView.com
New data shows that the world’s biggest Ethereum whales are loading up on meme crypto Shiba Inu (SHIB) and two of the hottest metaverse tokens.
The latest numbers from WhaleStats are revealing the investment behavior of the 1,000 wealthiest non-exchange Ethereum addresses.
The whale-monitoring website shows that in the last 30 days, deep-pocketed crypto investors bought an average of $8.42 million worth of Ethereum (ETH), $2.89 million worth of stablecoin Tether (USDT) and $2.46 million worth FTX Token (FTT), the utility asset of crypto derivatives exchange FTX.
Next up is stablecoin USD Coin (USDC) with an average purchase amount of $1.94 million, followed by Shiba Inu and player-controlled blockchain platform Gala with average purchases worth $1.03 million and $464,228, respectively.
At number seven is crypto exchange Binance’s stablecoin Binance USD (BUSD), while virtual reality platform Decentraland (MANA) comes in number eight with an average purchase amount of $158,455.
Wrapped Bitcoin (WBTC), which represents Bitcoin on the Ethereum network and is backed 1:1 with BTC, takes the ninth spot, and decentralized derivatives exchange Serum (SRM) rounds out the top 10 list.
Looking at the crypto trove of the largest Ethereum whales, ETH itself sits at the top with holdings worth over $166.56 million on average. Shiba Inu comes in at number two with average holdings worth $1.69 million.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Sergey Nivens