According to major wallet tracker WhaleStats, the top 100 whales on Ethereum's chain no longer favor SHIB meme coin, as they have dropped it from their top 10 holdings' list over the weekend.
Whales dump their SHIB, but there's a catch
WhaleStats has reported that, over the weekend, second most popular meme coin by market cap Shiba Inu has disappeared from the list of the top 10 assets held by these whales.
The diagram below also shows that whales have been switching their focus to other altcoins, such as MANA and stETH. These two are the biggest and the first coins on the top 10 list of holdings at the moment.
They are followed by ANT, ENJ, UTK, CVC, TKN, DAWN and SNT. Beyond that top 10 list, like at least the top 20, SHIB cannot be found either.
However, the top rich list on the same platform shows that the largest Ethereum investors are still holding SHIB. The largest wallet on this list now contains quite an impressive amount of this meme token — 18,113,302,000,496 worth $178,053,759. Other whales own $100 million in this coin or less, but they still hold it.
The first 10 wallets on the list after the address that we mentioned above contain $98 million to $100 million in SHIB each. This is the equivalent of 10,000,000,000,008 meme coins.
The number of total SHIB holders, according to WhaleStats, now stands at 1,255,976.
SHIB surged 6% today
Earlier today, Shiba Inu token demonstrated a rise by 5.94%, jumping from the $0.00000935 to the $0.00000990 level after SHIB printed a big long green hourly candle followed by a smaller one.
This is in total a substantial surge in the coin's price since Nov. 22 (when it was trading at $0.00000821) as SHIB has gone up, adding around 20% to its price.
Over the past seven days, the asset has shown a rise by 8.38%. Still, the current price of SHIB on charts is 88.91% below the historic peak reached by the meme coin in late October last year.