• Ethereum whales have been taking advantage of Shiba Inu’s price surge, pushing it to become the largest token holding among the top 5,000 Ethereum whales.
• Currently, these whales hold over 50.5 trillion SHIB worth approximately $708.4 million, accounting for 17.82% of their total value holding.
• SHIB’s increased volume has helped drive its price higher and put it in a unique position to benefit from this renewed interest from investors.
Ethereum Whales Boost Shiba Inu To Top Holding
At one point in time, Shiba Inu was the largest token by dollar value among the top 5,000 Ethereum whales but its price had fallen more than 80% from its all-time high causing these large investors to reduce their holdings drastically. However, with its recent double-digit gains and increasing momentum, SHIB has reclaimed its spot as the number one token held by these whales.
Shiba Inu Holdings By Ethereum Whales
Currently these whales hold over 50.5 trillion SHIB worth approximately $708.4 million which accounts for 17.82% of their total value holdings and puts it ahead of stablecoins USDT and USDC which make up 17.35% and 14.46%, respectively, of their holdings.
Price Surge For Shiba Inu
The renewed interest from investors due to SHIB’s growth has seen its price rise over 19% in the last seven days and hit a three-month high despite multiple drawdowns during this time period as well as being the most traded token among these large ETH holders in the past 24 hours which is helping to further push up SHIB’s price even more.
Benefits For Investors
The surge in popularity that Shiba Inu has seen over this past week is giving investors a unique opportunity to capitalize on this newfound momentum as well as benefit from its increased volume due to the interest from Ethereum whales who are now taking advantage of SHIB’s growth during this time period once again after reducing their holdings drastically before this resurgence began happening recently..
In conclusion, it is clear that Shiba Inu is now back on track as one of the top tokens held by Ethereum whales due to its recent surge in popularity and double-digit gains over the past week which have also resulted in an increase of volume for SHIB and benefiting those who invest in it at this current moment..