Shiba Inu Holdings Investor Cohort Now Adds Up To $584 Million

Key Points:

• Shiba Inu is currently the most owned digital asset among the top 1,000 ETH whales, excluding ETH itself and stablecoins Tether (USDT) and USD Coin (USDC).
• The same whales owned over $168 million in SHIB, implying that they grew their holdings in the Dogecoin (DOGE) rival by 151% in just four days.
• The protocol, like Polygon (Matic), Arbitrum, and Optimism, will be a layer-2 network built on top of Ethereum (OP).

According to new statistics, the world’s greatest Ethereum (ETH) whales’ Shiba Inu (SHIB) holdings have increased by hundreds of millions of dollars in less than a week.

Since January 17th, the top 1,000 ETH whales have consumed $422 million in meme assets, according to whale-surveying portal WhaleStats.

Previously, it was alleged that the same whales owned over $168 million in SHIB, implying that they grew their holdings in the Dogecoin (DOGE) rival by 151% in just four days.

According to WhaleStats, Shiba Inu is currently the most owned digital asset among the top 1,000 ETH whales, excluding ETH itself and stablecoins Tether (USDT) and USD Coin (USDC).

At the time of writing, SHIB holdings among the investor cohort now add up to $584 million.

Other digital assets owned by high-net-worth investors include $65 million in oracle provider Chainlink (LINK), $58 million in decentralized exchange Uniswap (UNI) and deflationary coin BIT, and $55 million in interoperable blockchain Quantum (QNT).

The whale activity concentrated on Shiba Inu might have influenced the meme token’s price, which rose from $0.00001045 on January 17th to a high of $0.00001210.

The whale SHIB buildup occurs as the ecosystem prepares for the beta release of Shibarium, a planned layer-2 for the DOGE competitor. The meme coin Shiba Inu is now trading at 0.00001208, seeing an increase of nearly 14% over the last 7 days.

The protocol, like Polygon (Matic), Arbitrum, and Optimism, will be a layer-2 network built on top of Ethereum (OP).

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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