Shiba Inu: ETH Whales Hold Over $52 Million Worth SHIB

Vignesh Karunanidhi
Shiba Inu: ETH Whales Hold Over $52 Million Worth SHIB
Source: The Sun

Shiba Inu has always been a whale favorite. The top ETH whales have been following a recurring pattern of buying and selling SHIB frequently. Whales have been buying billions of SHIB, selling when there is a price spike, and buying back when there is a drop in value.

Meme coins have started to develop more demand and utility, thanks to the slew of developments and updates that the teams release. However, an array of unforeseen events have stopped the prices of these coins from performing well.

As per the data from WhaleStats, a whale analyst, the top 5,000 ETH whales now hold over $52 million worth of SHIB.

Shiba Inu is a whale favorite

WhaleStats’ data reveals that the top 5,000 ETH whales hold $52,645,491 worth of SHIB. As per the calculation with the current price of SHIB, the value amounts to 6,274,326,432,748.538 SHIB. An analysis of the top 100 ETH whale holdings reveals that SHIB is number seven out of the top-ten holdings. The average amount held accounts for $504,350, or 58,127,623,376.

SHIB holdings account for 2.33% of the total whale holdings. The meme coin is trading at $0.000008531 at press time. The 24-hour trading volume has also dropped by 38%.