Shiba Inu Back As Top Choice Among Ethereum whales; But Here’s The Catch

Shiba Inu (SHIB), the world’s second largest meme crypto has managed to be the top choice among the biggest Ethereum (ETH) whales amid the increased volatility in the market. However, Shiba Inu price are on have dropped by around 18% in the last 30 days. Still, the whales are holding their SHIB tokens.

Shiba Inu flips Locus token

As per Whalestates, the Shiba Inu token has managed to flip the Locus Chain (LOCUS) as the biggest holding among the top 100 ETH whale wallets. The largest wallets are holding around $133 million worth of Shiba Inu tokens.

However, there is a catch depicted by the Whales’ data. The largest of the whales were holding around $167 million worth of LOCUS tokens. While it managed to flip the Shina Inu token as the biggest holding. Now, this holding has shrunk to stand at around $43 million.

Meanwhile, top whales are still holding the same amount of Shiba Inu tokens that they were holding earlier. This suggests that the whales are holding SHIB tokens and expecting an upward price movement soon.

Why whales are still holding SHIB?

Earlier, Coingape reported that a whale have added around 1.7 trillion Shiba Inu tokens in the anticipation of the game launch. This whale accumulation came in a single transaction of $19.39 million from the Huobi crypto exchange.

Since the launch of its much awaited official CCG game, Shiba Inu price have failed to record any kind of positive momentum. However, the Shiba Eternity has registered more than 10K downloads on the Google play store.

Amid the negative sentiments running in the global crypto market, Shiba Inu holders are not backing up in the token burn game. As per the data, the shiba Inu Burn rate has skyrocketed by around 1960% in the last 24 hours. The SHIB holders have sent around 56.13 million SHIB tokens to a dead wallet.

However, these events haven’t affected the SHIB prices to jump. Shiba Inu price are down by 2% in the last 24 hours to trade at an average price of $0.000011.

Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, 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 is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at [email protected]

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