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.
? JUST IN: $SHIB @Shibtoken now on top 10 purchased tokens among 5000 biggest #ETH whales ??
Looks like whales really love buying the dips.
How about you #ShibArmy ? ?
? https://t.co/i0YBlDdRUK https://t.co/TK6sQnVMBF pic.twitter.com/AjWK2JQ3xx
— WhaleStats – BabyWhale ($BBW) (@WhaleStats) April 11, 2022
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.
? The top 5000 #ETH whales are hodling
$1,477,868,151 $SHIB
$1,205,090,262 $FTX Token
$381,123,704 $BEST
$340,066,255 $MATIC
$323,961,768 $LINK
$311,668,378 $MANA
$296,582,944 $CHSB
$279,794,403 $OKBWhale leaderboard ?https://t.co/kOhHps8XBB
— WhaleStats – BabyWhale ($BBW) (@WhaleStats) April 11, 2022
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).
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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