Shiba Inu (SHIB) token has been trading under tremendous selling pressure lately. However, the largest of the Ethereum (ETH) whale portfolios appears to be holding the SHIB token even in the dip.
ETH Whales Hold $436 Million in SHIB
According to the whale transaction tracker, the Shiba Inu token has emerged as the largest token in the top 100 ETH whales. Data shows that the largest wallets now hold approximately $436.3 million worth of SHIB tokens. However, a slight decrease has been recorded in whale accumulation related to the token.
Meanwhile, the main reason Shiba Inu came to the top of the list was a broad liquidation of the FTX token by the ETH whales. According to reports, the top 100 ETH whales had more than $762 million worth of FTX tokens on June 17.
However, this amount has fallen to $44.9 million. About $682 worth of FTX tokens have been moved through the largest wallets. The token is at the top of the most sold token in the last 24 hours. FTT token is trading at an average of $26.80 at press time.
Shiba Inu increases by 15%
The prices of Shiba Inu have increased by almost 15% in the last 24 hours. SHIB is trading at an average price of $0.000009 at press time. It is still 90% lower than the all-time high (ATH) of $0.000088. Token’s 24-hour trading volume is up more than 56% to $463.3 million. It is still the second largest meme cryptocurrency with a market cap of over $5.1 billion.
Shibarmy has managed to maintain momentum for the token amid a massive price dip. According to the Shibburn, the burn rate has increased by 126% in the past 24 hours. Over 216.05 million SHIB tokens have been sent to a dead wallet by the community in the past 24 hours. However, the official Shiba Inu fire portal reported that 55.6 billion tokens have been burned since its inception.
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 analysis. When he is not writing, he plays video games, watches a thriller or participates in outdoor sports. Reach me at [email protected]
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.
This post Shiba Inu (SHIB) Emerges as Largest Token Owned by Top ETH Whales
was published first on https://coingape.com/shiba-inu-shib-emerges-as-biggest-token-held-by-top-eth-whales/