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Shiba Inu Returns as Whales' Biggest Holding, $1.45 Billion Worth Now Held by Top 1,000 Wallets

Sat, 04/09/2022 - 16:26
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Tomiwabold Olajide
Shiba Inu is now the biggest investment of these whales after the second most popular coin—Ethereum
Shiba Inu Returns as Whales' Biggest Holding, $1.45 Billion Worth Now Held by Top 1,000 Wallets
Cover image via stock.adobe.com

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According to data provided by WhaleStats, SHIB has once again returned as the largest holding of the top ETH whales after Ethereum. This position had previously been occupied by FTT (FTX Token) for a while now.

This means that Shiba Inu is now the biggest investment of these whales after the second most popular coin—Ethereum. WhaleStats reports that the overall amount of SHIB hodled by the top 1,000 ETH wallets is worth a whopping $1,459,250,776. As for FTT, the second biggest investment, for the time being, these top whales own $1,215,547,517 worth.

Crypto burn tracker @shibburn has announced that in the past 24 hours, a massive sum in SHIB tokens has been removed from circulation—a total of 1,351,643,000 Shiba Inu. At the time of publication, SHIB trades at $0.0000238, down 4.36% in the last 24 hours per CoinMarketCap data.

Shiba Inu kicks off early access to land bid event

According to an announcement by the official SHIB Twitter handle, the first stage of the land sale in SHIB: The Metaverse might be ready to take off this weekend.

Further explaining the details of the land sale in SHIB: The Metaverse, the project states there will be three stages. The first stage, which is the bid event, marks the start of engagement with the first stage of phase release for SHIB: The Metaverse and its land sales.

The bid event is expected to last for three days, or 72 hours, from inception and is the earliest access to some plots of land. Ahead of the three-day event, participants are expected to lock their LEASH or their Shiboshi NFTs, while all bids will be made using Ethereum.

As previously covered by U.Today, Shibarium, the Layer 2 (L2) on which SHIB: The Metaverse will be developed, and SHI, the Shiba ecosystem, is currently in development. Shibarium is reportedly in the Alpha phase and may soon be shifting into the Beta phase. The SHIB Burn portal might also be entering the final stages of its development.

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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.