Shiba Inu (SHIB) Flips FTX (FTT) Token To Become Largest Token Held By ETH Whales

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Whales accumulate SHIB

In a big development, Shiba Inu (SHIB) has flipped the FTX token(FTT) to become the largest token by dollar value held by the top 1000 Ethereum (ETH) whales, as per WhaleStats. FTT token was on top of the ETH whales’ list for a considerable long time. Now, the largest of ETH whales holds more than $1.6 Billion worth of SHIB token. The coin’s 24-hour trading volume has seen a surge of 30%.

Are ETH whales buying the dip?

Shiba Inu seems like creating new milestones every week and now but this time it looks like ETH whales have bought the dip. As per WhaleStats, SHIB has managed to become the top choice of ETH whales by replacing the FTX token.

SHIB token makes 18.71% of the total holdings by the largest ETH whales, while now FTT stands at 16.26%. Talking about the worth of coins the largest of ETH wallets holds, Shiba Inu amounts to be more than $1.6 Billion of the total holding. Similarly, FTT, now the second-largest coin held by whales, is worth $1.4 Billion of the total holding.

As we dig in, the SHIB token holds the ninth position on the list of the top 10 coins purchased in the last 7 days. However, Shiba Inu is also placed at the eighth spot on the top 10 coins sold by the biggest ETH whales in the last 30 days.

Can SHIB price surge in the future?

As soon as the Shiberse is approaching, Crypto whales and enthusiasts are adding more and more coins to their wallets.

Recently, Wirex, a digital payment platform, listed the Shiba Inu (SHIB) alongside five other tokens. Meanwhile, Shibburn announced that they have burned over 436 Million of the Shiba Inu coins in the last 7 days.

The second-largest meme coin saw a marginal gain of 0.41% in the 24 hours. The coin is trading at an average price of $0.000023, at the press time. However, SHIB’s 24-hour trading volume has seen a surge of 24%. As per Coinmarketcap, Shiba Inu is the 15th largest coin with a total market value of over $12 Billion.

Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at [email protected]
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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