SHIB Tokens Emerges As Top Choices Of Whales

Shiba Inu Coin News: Shiba Inu (SHIB), the world’s second-largest meme cryptocurrency is trading under increased selling pressure due to the recent market collapse. However, SHIB ecosystem tokens have again landed on the top choices of the Ethereum (ETH) Whales.

ETH Whales On Shiba Inu Buying Spree?

As per the data provided by WhaleStats (tracking crypto whales) on December 14, Shib Token appears on the list of the top 10 in terms of the most trading token among the 500 biggest ETH whales. Notably, the Shiba Inu coin price has jumped by 5% in the last 24 hours. 

ETH whales currently hold more than $53 million worth of Shiba Inu at a concentration rate of 2.48%. As per the data DAI stablecoin is now the biggest coin held by the ETH whales at a concentration rate of 2.66%.

Apart from the Shiba Inu coin, as per the WhaleStats tweet, another SHIB token BONE joins the list of the most used smart contracts among the top 100 ETH whales in the last 24 hours.

Shiba Inu burn rate declines by 95%

Despite the price surge of Shiba Inu Shiba burn rate declined by 95% in the last 24 hours. As per the Shibburn data, in the last 24 hours, 2,00000 SHIB has been burned.

SHIB Price Analysis

As Coingape reported, for the last three weeks, the price of SHIB has been unable to go through a consolidation stage. In a volatile market where there have been many attempts to break this range, it suggests market players’ ambivalence. However, the current price indicates a reversal from the $0.0000089 support level, pointing to a 5% rise to the $0.00000964 level.

Notably, significant transactions reached 57 in the past 24 hours, which is a record high compared to the previous seven days. The fact that whales are still purchasing suggests they remain optimistic about SHIB’s potential growth despite its sluggish price.

SHIB Live Price

Shiba Inu’s live price is $0.000009 USD, and its 24-hour trading volume is $162,153,789 USD. The coin Shiba Inu has increased by around 5% during the past 24 hours. Shiba Inu’s live market cap is $5,021,214,983 USD.  As per coinmarketcap data, there are 549,063,278,876,302 SHIB coins in circulation.

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.