Shiba Inu Slides Into the Top Held Tokens List by 1000 ETH Whales

Shiba Inu (SHIB) sits in the fourth place of cryptocurrencies held by the top 1000 ETH whales, according to ETH wallet tracker WhaleStats.

Investors continue to HODL SHIB as the second best canine-based crypto continues to enjoy its position within WhaleStats’ holdings leaderboard. According to the ETH whales tracker, SHIB has a USD value of over $740 million.

Above SHIB are USD Coin (USDC), Tether (USDT), and FTX Token (FTT). The leading stablecoins, which have led the list for weeks already, trump SHIB’s USD value. USDC has a USD value of more than $1.7 billion, while USDT has over $1.1 billion. Meanwhile, FTX Token lags behind USDT with more than $1 billion in USD value.

SHIB is also ranked fourth in WhaleStats’ top 100 ETH wallets, with an average amount held of over $5.9 million and an average quantity held of a whopping 469 billion SHIB.

Earlier today, a major ETH whale labeled “BlueWhale0073” took advantage of the crypto dip and bought 375.97 billion SHIB. This purchase is worth $4.56 million at the time. The purchase came after the SHIB price stabilized above its critical level support level at $0.0000095. This huge purchase allowed SHIB to slide into the most purchased token by the top 2000 ETH wallets list.

In related news, a total of 607,530,847 SHIB tokens have been burned, according to a report from Shibburn. Shiba Inu is up by 4.7%, trading at $0.00001265 at the time of writing. The token has a 24-hour trading volume of over $570 million.