Shiba Inu Now Largest ETH Whale Holding Despite Crypto Market Turmoil

According to WhaleStats statistics, Shiba Inu is currently the second-largest crypto asset held by the top 100 Ethereum whales after USDC, although Ethereum (ETH) maintains the top ranking.

New data from WhaleStats reveals the investment patterns of Fortune’s top 100 non-exchange Ethereum addresses. The top 100 whales are basically wallets with an average value of $14 million.

Statistics provided by Coingecko show that the market price of the Shiba Inu on Tuesday was $0.00000827, up 3.7% over the past seven days.

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According to the Blockchain Data Tracker, the top 100 Ethereum whales currently own $423,180,380 worth of SHIB, or 15.55% of their total holdings. By comparison, Circle’s USDC stablecoin accounted for 18.08%, or $491,815,224.

Furthermore, WhaleStats shows that the average holding of SHIB is 463.5 billion tokens worth $3,678,366. This makes the dog-themed coin the largest altcoin holding among ethereum whales, excluding ETH and the two stablecoins.

Shiba Inu has yet to show a strong recovery

Whales also like to hold FTX tokens, Polygon’s MATIC, Chainlink’s LINK, and Decentraland’s MANA, among others.

Still, despite strong demand, SHIB has shown no signs of improving in more than two months. Since mid-April, the value of meme coins has dropped by 70.72%, with a loss of 70.72%.

SHIB total market cap at $4.8 billion on the daily chart | Source: TradingView.com

Whale wallets are also interested in FTX Token (FTT), the native asset of the famous FTX cryptocurrency exchange, with an average supply of 140,651 tokens worth $3,241,465.

The investment group owns an average of $1,744,056 worth of Bitpanda Ecosystem Tokens (BEST), ranking sixth among the top 100 ETH wallets.

How long is the holder’s SHIB retained?

The coin below is CHSB, the native token of SwissBorg, a cryptocurrency wealth management platform. The average number of tokens held by whales is over 6 million with a total value of $1,103,965.

WhaleStats also revealed that wealthy Ethereum investors are buying cryptocurrency exchange MXC for $1.1 million, with the top 10 being 3D virtual reality environment Decentraland (MANA) at $818,038 and 1,057,781 tokens.

At the same time, according to the composition of IntoTheBlock’s holding time, 21% of SHIB holders have held it for more than a year, 76% have held it for less than a year, and 3% have held it for less than 30 days.

As the Shiba Inu population continues to increase, the mid-term holders have also dispersed.

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Featured image from Watcher Guru, chart from TradingView.com

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