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As Price Dips, Shiba Inu Becomes Top Purchased Token And Most Held Coin By Whales

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Top Ethereum (ETH) Whales are interested in accumulating Shiba Inu (SHIB) token once again.

During the last 24 hours, the popular dog-themed currency seems to get back on Whales’ radar and became one of the top purchased tokens among 5000 biggest ETH whales, as per data provided by blockchain data tracking website WhaleStats.

According to the data, the top 5000 ETH whales have accumulated 9,132,897 (9.13M) SHIB on average.

This development also leads SHIB to become the top token holding position by dollar value among the top 5000 biggest ETH whales, now holding $1,477,868,151 (1.477B) worth of SHIB.

While looking into the top 100 ETH wallets data for the past 24 hours, SHIB appears to be the 8th most accumulated token, and these biggest wallets have added 234,813,442 (234.81M) tokens to their portfolio on average.

Besides accumulation, the burning of SHIB tokens has also gained momentum. As per our recent report, over 1.99 billion Shiba Inu (SHIB) tokens have been taken out of circulation within the last seven days, and over 185.39 million SHIB during the previous 24 hours.

The massive accumulation among whales and the whopping number of burn transactions are good signs, but the current circulating supply of 549 trillion tokens may cap the potential growth in the near term.

At the time of writing, Shiba Inu is trading at $0.00002426, down -1.51% over the last day. A 24-hour trading volume for the popular dog-themed cryptocurrency is up 19.83% compared to the previous day and currently stands at $639,881,749 ($639.88M).

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The content is for informational purposes only and may include the author’s personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

Zabi is crypto enthusiastic with more than 10 years of experience in managing Google News-approved Finance websites. Zabi has a strong background in finance with a thorough understanding of cryptos and a solid grip on the crypto and financial market industry. Along with his passion for crypto writing, Zabi manages his personal stock and finance-related Google News-approved websites.


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