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<\/a><\/p>\nShiba Inu is no longer the biggest holding among Ethereum whales, but it may not be for long<\/p>\n<\/div>\n<\/div>\n
Shiba Inu, which has previously shown\u00a0strong performance on the market<\/a>, has now lost its lead as the biggest USD-valued holding on the market to another token\u2014which conquered that position\u00a0for a whole month, per WhaleStats<\/a>.<\/p>\n According to the whale tracker, the biggest USD holding among Ethereum whales is no longer after the SHIB token. The new leader, FTX token, was always breathing down\u00a0the back of the memetoken and overtook it\u00a0as the purchasing power of Shiba Inu decreased.<\/p>\n At press time, $1.14 billion worth of FTX is being held by the 100 biggest ETH whales on the market, while Shiba Inu is lagging behind with $1.12 billion. But despite losing the title of the biggest USD-valued holding, Shiba Inu<\/a> may quickly bounce\u00a0back in its place in case of a price increase or additional buying power from whales.<\/p>\n According to TradingView, the price of the token tumbled by\u00a0almost 11% in recent\u00a0days, which may be the main reason behind the drop in USD value\u00a0as no major selling activity was\u00a0noticed on the market.<\/p>\n Ads<\/p>\n<\/div>\n<\/div>\n Previously, U.Today covered why whales are constantly buying enormous volumes of Shiba Inu<\/a> tokens. The main reasons were the desire to take control of the supply circulating on the market and push the price of the token further up.<\/p>\n The second reason was the huge discount of Shiba Inu tokens on the market compared to the ATH, which creates a relatively good Risk\/Reward ratio for investors specializing in “memetokens”\u00a0or high-volatility assets.<\/p>\n At press time, Shiba Inu is trading at\u00a0$0.000024, and it may overthrow FTX token in the event of a mild 2-3% price increase in the next 24 hours. In addition to a price increase, the regular purchase of approximately 50 billion SHIB will also put it back in first place.<\/p>\n<\/div>\n![\"WhaleStats](\"https:\/\/u.today\/sites\/default\/files\/inline-images\/24041.PNG\"\/)
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