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Whopping 3.96 Trillion Shiba Inu (SHIB) Added by Whales in Just One Week

Sun, 01/15/2023 - 13:15
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Gamza Khanzadaev
Almost 4 trillion Shiba Inu tokens purchased by whales as SHIB price hits local high
Whopping 3.96 Trillion Shiba Inu (SHIB) Added by Whales in Just One Week
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According to WhaleStats, the average position size of the top 100 Ethereum holders in the Shiba Inu token increased by 3.96 trillion SHIB during the past week. So far, the average position size of one such whale is equal to 154 billion SHIB, equivalent to $1.54 million and 39.6 billion more than at the beginning of the week.

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Deep dive into whales' zone

Shiba Inu tokens currently account for 5% of this investor category's total portfolio and are worth $153.79 million, making it 15.44 trillion SHIB. If the portal's data is to be believed, SHIB is currently the fourth-largest crypto asset in the portfolio of these whales. It is second only to stablecoins and Ethereum itself in size, but surprisingly overtakes stETH.

The largest influx of Shiba Inu tokens into the wallets of major Ethereum holders was seen on Friday, Jan. 13. That is when SHIB hit $0.000011, a two-month high and a level not seen since major crypto exchange FTX went bust in November, causing major chaos on the crypto market.

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Probably with the continuation of the bullish trend, if it is not a trap, we can expect the share of whales in SHIB to increase. One may recall once in the summer of 2022 their holdings in the token were worth over $600 million.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.