Shiba Inu The Most-Held Token By ETH Whales, Is Metaverse Hype Back?

The meme tokens are the worst hit category of the Cryptocurrency market affected by the recent crash. However, the biggest Ethereum (ETH) whales have taken the advantage of this recent dip. In this bid, Shiba Inu (SHIB) has emerged as the top choice of these whales.

ETH whales accumulate SHIB

Dog themed meme coins that rose to fame last year haven’t shown much growth this year. SHIB token which was crowned the most searched crypto of 2021 over Bitcoin (BTC) has dropped by miserably. Shiba Inu prices are trading down by over 52% over the past 60 days. Meanwhile, the ETH whales have continued their accumulation as the market still trades under heavy volatile conditions.

According to WhaleStats, Shiba Inu has become the biggest holding of the top 500 ETH whales. SHIB has managed to flip the FTX token (FTT) to attain the top spot. The FTT token stood as the largest token held by whales for a quite long time. As we dig in, SHIB holding by the largest 100 Ethereum whales has increased massively.

Earlier, the Whalestats reported that the top 100 ETH wallets are holding around $573 million worth of Shiba Inu tokens. The data shows that SHIB holding has increased by almost $259 million in the meantime. As of now, the top 100 wallets are holding over $833 million worth of SHIB tokens with them.

Marcie Jastrow joins SHIB team

The SHIB token price are down by 6% in the last 24 hours. It is trading at the average price of $0.000012, at the press time. Shiba Inu’s fresh price drop justifies the whales’ bulk accumulation move. Meanwhile, it is still the second largest meme crypto with a total market of over $6.4 billion.

In an order to develop it recently announced Metaverse, the SHIB team announced that they have added Marcie Jastrow to their squad. They highlighted that Jastrow holds over 20 years of experience in the Entertainment industry. She has led the Immersive team for Technicolor and their certain brands.

Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at [email protected]

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.