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Whales’ SHIB Holdings Fall Under $70 Million, Yet SHIB Army Hits New Milestone

Wed, 11/23/2022 - 01:00
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Yuri Molchan
Top whales on Ethereum keep dumping their SHIB and their stash keeps shrinking hard
Whales’ SHIB Holdings Fall Under $70 Million, Yet SHIB Army Hits New Milestone
Cover image via stock.adobe.com

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According to WhaleStats tracker of largest wallets on Ethereum and a few other top blockchains, has reported that the amount of SHIB held by top 100 investors has plummeted below the level of $70 million.

Despite that, the Shiba Inu army has reached yet another milestone as the number of SHIB holders has expanded significantly.

Whales keep dumping SHIB

Last week, the amount of Shiba Inu owned by those wallets varied between $86 - $82 million. Now, they have continued dumping the second biggest meme coin as its price keeps declining.

At the time of this writing, the top 100 whales on Ethereum hold 8,036,305,217,856 SHIB evaluated at $68,301,754. This is 3.09 percent of their comprised portfolio, according to WhaleStats.

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Image via WhaleStats

New milestone for the SHIB army

Still, despite this, the SHIB army has set another milestone over the past four days. The amount of holders of this meme coin has jumped by slightly over 6,000 since the weekend. Now, it constitutes 1,282,333 compared to 1,276,281 observed on Saturday.

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SHIB trading volume soars by 7.5 million percent

Earlier today, CoinMarketCap spread the word about the trading volume of Shiba Inu skyrocketing by 7,449,053 percent. The possible reason for this was the movement of large amounts of SHIB by whales.

U.Today reported that yesterday slightly more than one trillion SHIB was moved in just several chunks.

However, the meme coin remains in the lows and its price is going deeper down. At press-time, SHIB is changing hands at $0.000008633. Despite a rise of 2.25 percent demonstrated by the meme coin, it is still trading 90.27 percent below the ATH of $0.00008845 reached at the end of October last year.

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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.