100 Biggest Whales Sell 323 Billion SHIB, Here’s What’s Behind It

As per data shared by wallet tracking service WhaleStats, today the overall balance of SHIB owned by the largest Ethereum whales has shrunk by a staggering 323 billion SHIB as they had dumped these meme coins on the market.

🐳 The top 100 #ETH whales are hodling

$151,728,733 $SHIB
$101,395,508 $BIT
$72,469,488 $LOCUS
$65,016,119 $MKR
$43,548,902 $LINK
$42,822,792 $BEST
$42,601,552 $MOC
$40,234,953 $MANA

Whale leaderboard 👇https://t.co/N5qqsCAH8j pic.twitter.com/UAAXLmpmCa

— WhaleStats (tracking crypto whales) (@WhaleStats) August 30, 2022

Whales keep selling billions of Shiba Inu

WhaleStats platform focused on the largest wallets on various blockchains, including Ethereum and BNB Chain, has shared that earlier today, the biggest 100 wallets on ETH got rid of roughly 323,362,974,939 Shiba Inu canine tokens evaluated at about $4 million.

Earlier today, the whales’ balances comprised a total of $151,728,733. By now, this amount has shrunk to $147,532,685, according to the website of the aforementioned wallet tracker. This now totals 5.13 percent of their portfolio.

The second biggest meme coin by market cap is now the holder of the fifth place among the whales’ largest crypto holdings.

As for the number of holders, Shiba Inu has 1,213,828 – this all-time high has been achieved recently.

Whales sell SHIB on the rise

According to data provided by CoinMarketCap, earlier today, the price of the meme token managed to go upward by nearly 5 percent, hitting the $0.00001255 price level. This is where the whales had sold their 323 billions of SHIB, making healthy profits from this sale.

With the massive amount of tokens sold, a 5 percent rise was quite enough to make a profit.

By now, the canine token price has eliminated some of its earlier gains, losing about 2.5 percent of the previous rise.