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$193 Million in SHIB End up in Whales' Wallets as They Increase Holdings

Wed, 08/17/2022 - 13:41
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Yuri Molchan
Ethereum whales continue to increase their SHIB holdings while coin is trading in range after recent rise
$193 Million in SHIB End up in Whales' Wallets as They Increase Holdings
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WhaleStats crypto tracker has shared that over the past 24 hours, the amount of Shiba Inu canine coin owned by the top 500 whales on the Ethereum chain has increased to $193 million worth of SHIB.

Whales add millions worth of SHIB overnight

Compared to the $187,257,510 worth of Shiba Inu that the aforementioned group of whales had yesterday, on Aug. 16, overnight this amount first rose to $191.2 million and now has grown to a total of $193,310,168, according to a recently published tweet.

Thus, the investors have increased the amount of SHIB they hold by $6 million in total. As for the top 100 ETH whales, they hold a little less Shiba Inu - $189,488,348 - and in their portfolio, the meme coin holds fourth place after USDC, USDT and stETH. It has given up its number one position in their portfolio to these assets over the past few weeks.

Now, Shiba Inu constitutes 5.91% of their crypto bags.

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SHIB trading in range

After rising over 36% on Aug. 14 and hitting $0.00001768, the second biggest canine crypto has been moving in a range, trading around the $0.00001610 zone, alternating between support and resistance.

Earlier today, influencer David Gokhshtein, who is also a former U.S. congressional candidate and founder of Gokhshtein Media platform, tweeted that he expects Shiba Inu to make another move soon.

In March this year, he announced that the coin may reach the $0.001 level, but he does not see it hitting $1.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.