Shiba Inu Worth $660 Million Settled In The Pockets Of The 200 Biggest ETH Whales

Shiba Inu – Data on the make-up of the top 2,000 Ethereum (ETH) whales’ positions has been made available by WhaleStats, a website that monitors the activities of significant ETH investors.

SHIB holds the highest share of the whales’ portfolio, followed by stablecoins and Ethereum itself, according to the statistics. The token’s percentage of the total, or $660 million, is 10%. In contrast, the Shiba Inu project’s total capitalization is at over $6.6 billion.

As a result, it appears that the top 2,000 ETH holders own 10% of Shiba Inu’s total market capitalization by investing 10% of their portfolio in SHIB.

Are these numbers concerning? Hardly. In contrast, the involvement of such major players in the cryptocurrency market in a project that was widely seen as a joke a year ago shows that they value the work of the Shiba Inu team.

Despite having such promising crypto businesses as Decentraland (MANA), Chainlink (LINK), and Polygon (MATIC) as neighbors in the list, SHIB’s share still outperforms the share of these tokens by a factor of five.

Shiba Inu had a busy week

Shiba Inu have had a number of positive developments over the past week. As a result, on August 2, the project—which was celebrating its two-year anniversary—released a number of facts about its eagerly anticipated game, “Shiba Eternity,” which was created in partnership with PlaySide Studios. It is significant to note that Ethereum whales paid close attention to the announcement as well.

Furthermore, SHIB was added to the list of coins that may be used to make purchases using the Binance Card by Binance, one of the biggest cryptocurrency exchanges in the world. As a result, SHIB can now be used to make payments within the European Economic Area.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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