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Another 50 Billion SHIB Grabbed by Top ETH Whale, Shiba Inu Ranks Third Largest Held: Details

Wed, 03/16/2022 - 11:49
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Tomiwabold Olajide
Shiba Inu ranks third largest held by whales, with another 50 billion SHIB scooped by top ETH whale
Another 50 Billion SHIB Grabbed by Top ETH Whale, Shiba Inu Ranks Third Largest Held: Details
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According to WhaleStats' analysis of the top ETH whales, Shiba Inu is presently the second largest investment of these top holders after the second most popular coin, Ethereum. Shiba Inu whales have become more active over the last 24 hours as the number of large transactions has risen by 11%, per IntoTheBlock data.

WhaleStats crypto tracker has reported that an ETH whale has bought 50,736,574,302 SHIB, or $1,106,564 worth. This comes after a massive purchase of 49.65 billion Shiba Inu, or $1,094,317 worth, the prior day. Shiba Inu is posting a rebound alongside the rest of the crypto market, trading up 2.16% at $0.219.

Whales keep accumulating

Simply defined, a whale is someone who owns a lot of cryptocurrencies or is otherwise a large holder. 

WhaleStats
Top 100 Shiba Inu Whales, Courtesy: WhaleStats

The top 100 Shiba Inu holders have likewise increased their portfolios, as WhaleStats reports a 292.18% rise in the average SHIB balance of this category of investor. The average SHIB value of their portfolio has also grown by 287.43%. Both volume and active addresses have grown by 248.27% and 15.38% over the last 24 hours, demonstrating healthy metrics.

Topping WhaleStats' list of the top 100 Shiba Inu holders is a wallet called "Light." The owner of this crypto address holds 35,121,281,443,997 Shiba Inu tokens, or $770,209,702 worth.

Shiba Inu's burn rate is up 646%

Shibburn.com, a platform that tracks the statistics of burned Shiba Inu tokens, reports that in the past 24 hours, there have been a total of 51,983,850 $SHIB tokens burned and nine transactions.

As seen on the Shibburn website, consequent transactions bring the total amount of SHIB burned to 54,877,540 SHIB, with the burn rate spiking 646%. "Burning" permanently removes a number of tokens from circulation and is believed to impact the price in the long term.

Real-world businesses are keen on adopting Shiba Inu as an accepted payment alternative. AMC Theatres recently announced accepting Shiba Inu online payments on its website.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.