The asset accounts for the single largest holding for any risk token.
Shiba Inu has re-entered the top 10 list of most traded tokens by the 100 biggest whales on the Ethereum network, according to a recent tweet from WhaleStats, a whale analytics resource.
JUST IN: $SHIB @Shibtoken is back on top 10 by trading volume among 100 biggest #ETH whales in the last 24hrs ?
Check the top 100 whales here: https://t.co/N5qqsCBeXR
(and hodl $BBW to see data for the top 5000!)#SHIB #whalestats #babywhale #BBW pic.twitter.com/zhzHLIi6X6
— WhaleStats (tracking crypto whales) (@WhaleStats) February 24, 2023
Based on current rates, these giant addresses currently hold SHIB worth approximately $645 million which is whopping 51 trillion Shiba Inu. Shib accounts for 13.23% of their cumulative balance as of press time.
According to data from WhaleStats, SHIB is the third-largest single holding for 100 high ETH whales, coming behind only the stablecoins USDT and USDC. Accordingly, Shiba Inu represents the largest holding among all risk tokens.
? The top 100 #ETH whales are hodling
$645,304,846 $SHIB
$177,545,299 $MATIC
$146,616,720 $BEST
$136,072,000 $CHSB
$135,198,020 $LINK
$105,484,522 $BIT
$70,697,580 $LOCUS
$69,176,983 $UNIWhale leaderboard ?https://t.co/N5qqsCAH8j pic.twitter.com/l9KdFMBEEE
— WhaleStats (tracking crypto whales) (@WhaleStats) February 25, 2023
These metrics suggest a surge in interest, as numerous whale addresses are actively accumulating the asset in anticipation of the next bull run. This growing trend was highlighted by Crypto Basic, which reported the accumulation of up to 1.92 trillion SHIB tokens by a new address last December. Notably, another whale acquired 117 billion tokens this month.
Besides these remarkable achievements, the canine-themed token’s smart contract ranks among the most utilized by the top 5,000 whales on Ethereum, which is a testament to its extensive adoption and popularity within the market. According to Whale States, SHIB’s smart contract is the seventh most used among these whales.
? MOST USED smart contracts for the top 5000 biggest #ETH whales today
? $USDC
? $USDT
? $WETH
4️⃣ $LINK @chainlink
5️⃣ $AAVE @AaveAave
6️⃣ $PERP @perpprotocol
7️⃣ $SHIB @Shibtoken
8️⃣ $SAND @TheSandboxGame
9️⃣ $NMR @numerai
? $UNI @Uniswap pic.twitter.com/kff0HaaLvC— WhaleStats (tracking crypto whales) (@WhaleStats) February 25, 2023
Meanwhile, the asset remains at the mercy of the broader market-wide swings without significant updates on Shibarium. Shiba Inu is currently down 4.30% in the past 24 hours, changing hands at $0.00001258 as of press time.
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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