As reported by WhaleStats, which tracks the transactions and positions of Ethereum holders, over $150 million worth of SHIB tokens from Shiba Inu have settled in the portfolios of the 1,000 largest ETH whales. SHIB makes up 4% of the total portfolio size of this group of investors, yielding to USDC and USDT, wrapped solutions in the form of stETH and wBTC, as well as ETH itself.
🐳 The top 1000 #ETH whales are hodling— WhaleStats (free data on crypto whales) (@WhaleStats) August 12, 2022
$105,991,677 #FTX Token
Whale leaderboard 👇https://t.co/jFn1zIOq03 pic.twitter.com/B1AYPmgGJ2
It can also be noted that Ethereum whales' share of stablecoins is 40%, which gives a fairly clear vision of the attitude of this group of investors to the current situation on the crypto market.
10% of SHIB supply is in ETH whales' hands
As previously reported by U.Today, the 2,000 largest Ethereum holders hold more than 10% of the SHIB offering in their hands, the equivalent of $660 million. Using new data from WhaleStats, it is easy to see that the largest share of SHIB at $450 million is concentrated in the hands of the second thousand ETH whales.
It is hard to say whether such a large concentration of SHIB in the hands of one group of investors poses a threat, but this fact should be viewed as rather positive. The fact that the whales have accumulated SHIB may tell us that the big players believe in the project and are willing to bet their money on it. Such behavior may also indicate that ETH whales believe that SHIB is near its lower price thresholds and it is safe enough to aggregate here.