Shiba Inu (SHIB) Emerges As Biggest Token Held By Top ETH Whales

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Shiba Inu (SHIB) token has been trading under huge selling pressure lately. However, the biggest of the Ethereum (ETH) whale wallets seems to be holding the SHIB token even in the dip.

ETH whales hold $436 mln worth of SHIB

According to the whale transaction tracker, the Shiba Inu token has emerged as the largest token held among the top 100 ETH whales. Data depicts that the biggest wallets now hold around $436.3 million worth of SHIB tokens. However, there has been a slight decrease registered in the whale accumulation regarding the token.

Meanwhile, the main reason behind Shiba Inu coming out at the top of the tally has been a wide liquidation of the FTX token by the ETH whales. According to reports, as of June 17, the top 100 ETH whales were holding more than $762 million worth of FTX tokens.

However, this amount has dropped down to stand at $44.9 million. Around $682 worth of FTX tokens have been moved out by the biggest wallets. The token stands at the top of the most sold token in the past 24 hours. FTT token is trading at an average of $26.80, at the press time.

Shiba Inu up by 15%

Shiba Inu prices have jumped by almost 15% in the last 24 hours. SHIB is trading at an average price of $0.000009, at the press time. It is still 90% down from its all time high (ATH) of $0.000088. Token’s 24 hour trading volume is up by over 56% to stand at $463.3 million. It is still the second largest meme cryptocurrency with a market cap of more than $5.1 billion.

Shibarmy has managed to maintain the momentum for the token amid a massive price dip. According to the Shibburn, the burn rate has jumped by 126% in the last 24 hours. In the past 24 hours over 216.05 million SHIB tokens have been sent to a dead wallet by the community. However, the official Shiba Inu burn portal reported that 55.6 billion tokens have been burned from its inception.

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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