Top 1,000 Ethereum whales hold nearly $900M worth of Shiba Inu (SHIB)

The top 1,000 Ethereum whales hold nearly $900 million in Shiba Inu (SHIB). This makes it the largest holding outside of ETH.

Top Ethereum whales hold nearly $900 million of Shiba Inu (SHIB)

According to Whale Stats, the top 1,000 ETH whales are holding $989 million worth of SHIB, with FTX’s $FTTT coming in second, with $891 million in token holdings. Whales also hold $329 million worth of Bitpanda’s EST and $208 million on OKX’s OKB, showing a strong bet on cryptocurrency exchange tokens on top of the Ethereum network. Their next largest holding is Polygon (MATIC), at $186 million.

Next, the data shows that whales hold SwissBorg (CHSB) $182 million and Chainlink’s LINK worth $141 million. They hold $139 million worth of Locus (LOCUS). It should be noted that the list does not include stablecoins such as USDC and USDT.

SHIB’s on-chain trading volume recently dropped to a 12-month low, when the number of HODLers continues to grow, showing that SHIB token holders are not selling even as the price falls. Notably, data from Coinbase’s pricing pages shows that ADA’s typical holding period is 121 days, while SHIB’s typical holding period is 120 days, which means users keep their accounts. this property for more than four months before selling or sending to another account or address.

According to the cryptocurrency exchange, a long hold time “signals an accumulation trend,” while a short hold time “indicates the increased movement of tokens.”

SHIB army burns 324.7 million in the past 24 hours

According to Shibburn, over the past 24 hours, the Shiba Inu community has sent 324.7 million SHIB to unusable wallets. These addresses hold the tokens locked without leaving a chance to withdraw or spend them in any other way.

This result is achieved after 27 trades. The largest part of that was done by Shibburn himself as they deposited 123,456,789 tokens into a dead wallet. Updated figures on the Shibburn website show that the number of tokens extracted from the perpetual circulating supply in the last 24 hours is now 350,650,730, with a burn rate increase of 338.20% from 70 million tokens burned before.

WhaleStats has discovered another huge SHIB bought by a large Ethereum whale. Fifteen hours ago, the owner of the wallet “BlueWhale0073” bought back 191,883,317,886 Shiba. This amount of crypto is equivalent to $3,098,915. On May 10, the same whale, rated 210 by WhaleStats, purchased another large volume of this coin, almost twice as large as today – 311,816,880,855 SHIB. The whale “Bombur” bought 60,606,002,938 SHIB. His wallet now holds $20,781,068 worth of Shiba Inu tokens.

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