In a major development, Shiba Inu (SHIB) has flipped the FTX token (FTT) to become the largest dollar-value token held by the top 1,000 Ethereum (ETH) whales, according to WhaleStats. FTT token has been at the top of the list of ETH whales for quite some time. Now the largest of the ETH whales has a SHIB token worth $1.6 billion. The coin’s 24-hour trading volume is up 30%.
Are ETH Whales Buying the Dip?
Shiba Inu seems to be creating new milestones every week and now it looks like ETH whales have bought the dip. According to WhaleStats, SHIB has managed to become the top choice of ETH whales by replacing the FTX token.
JUST INSIDE: $SHIB @Shibtoken was turned over $FTX to be the largest symbolic position in dollar value in the top 1000 #ETH whales#Shib #ShibArmy
— WhaleStats – BabyWhale ($BBW) (@WhaleStats) March 7, 2022
SHIB token makes up 18.71% of the total holdings of the largest ETH whales, while FTT now stands at 16.26%. Speaking of the value of coins that hold the largest ETH portfolios, Shiba Inu accounts for more than $1.6 billion of total holdings. Likewise, FTT, now the second largest coin owned by whales, is worth $1.4 billion of total holdings.
As we dig, the SHIB token is in ninth position on the list of the top 10 coins bought in the past 7 days. However, Shiba Inu also ranks eighth in the top 10 coins sold by the largest ETH whales in the past 30 days.
Can the price of SHIB rise in the future?
As the Shiberse approaches, 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 has announced that they have burned over 436 million of the Shiba Inu coins in the past 7 days.
In the past 7 days, there are a total of 436,364,849 $SHIB tokens burned and 80 transactions. #shibarmy
— Shibburn (@shibburn) March 6, 2022
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 press time. However, SHIB’s 24-hour trading volume is up 24%. According to Coinmarketcap, Shiba Inu is the 15th largest coin with a total market value of over $12 billion.
Disclaimer
The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication is not responsible for your personal financial loss.
About the author
Ashish believes in decentralization and has a keen interest in evolving Blockchain technology, the cryptocurrency ecosystem and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analyses. When he’s not writing, he plays video games, watches a thriller, or works out outside. Reach me at [email protected]
This post Shiba Inu (SHIB) changes FTX (FTT) token to become largest token held by ETH whales
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