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Whales Grab $33 Million in SHIB Over Past 24 Hours But There’s a Catch

Sat, 08/13/2022 - 10:41
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Yuri Molchan
Large investors have added $33 million worth of SHIB overnight, but despite this their total SHIB holdings have shrunk tremendously
Whales Grab $33 Million in SHIB Over Past 24 Hours But There’s a Catch
Cover image via stock.adobe.com

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Top Ethereum whales continue to buy up Shiba Inu, however, the total amount of this meme coin in their wallets has diminished and now they hold less than $200 million in SHIB.

ETH whales grab $33 million in SHIB

In a recent tweet, WhaleStats crypto data company which pulls focus on 100 largest wallets on the Ethereum chain announced that over the past 24 hours, these whales have added $33.2 million worth of Shiba Inu – the second largest canine cryptocurrency by market cap after Dogecoin.

Now, these top 100 wallets are holding a total of $179,344,952 in SHIB compared to $150,185,634 on Friday.

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Whales’ SHIB holdings shrink by more than 50%

Data provided by WhaleStats shows that compared to just recently, the total amount of SHIB held by the Ethereum whales has seen a drastic decrease. As early as last week, on August 3, these wallets held more than $600,000,000 worth of Shiba Inu.

Roughly similar amount was spotted in their wallets by WhaleStats on August 7 – that was 10 percent of the total SHIB supply in circulation.

By the time of this writing, this large stash has shrunk to merely $180 million as reported above. Besides, overnight Shib has lost its leading position on the top ten list of whales' holdings. Now it sits on the second spot, while LOCUS holds the first position there.

At the moment, Shiba Inu is changing hands at $0.00001265 as per data provided by CoinMarketCap.

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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.