Shiba Inu Now The Largest ETH Whales’ Holding Despite Crypto Market Turmoil

Shiba Inu is currently the second-largest crypto asset held among the top 100 Ethereum whales behind USDC, according to statistics from WhaleStats, although Ethereum (ETH) maintains the top rank. The most recent data from WhaleStats reveals the investment patterns of the top 100 non-exchange Ethereum addresses by wealth. The top 100 whales are essentially wallets with an average worth of $14 million. Tuesday’s market price for Shiba Inu is $0.00000827, up 3.7% over the last seven days, statistics provided by Coingecko shows. Suggested Reading | Bitcoin Climbs Back Above $20K, A Bit Of A Relief To The Sinking Crypto Market According to the blockchain data tracker, the top 100 Ethereum whales currently have SHIB worth $423,180,380, or 15.55 percent of their total holdings. In contrast, Circle’s USDC Stablecoin accounts for 18.08 percent, or $491,815,224 value. In addition, WhaleStats reveals that the average SHIB holdings are 463.5 billion tokens worth $3,678,366. This makes the dog-themed token the largest altcoin holding among Ethereum whales, excluding ETH and two stablecoins. Shiba Inu Yet To Show Strong Recovery The whales also favor holding the FTX token, Polygon’s MATIC, Chainlink’s LINK, and Decentraland’s MANA, among others. Nevertheless, despite strong demand, SHIB has shown no signs of improvement in over two months. Since mid-April, the meme coin’s value has decreased by 70.72...