Shiba Inu (SHIB) Becomes Top Altcoin Among Ethereum Whales As Crypto Markets Crash: WhaleStats

Fresh data shows the world’s biggest Ethereum (ETH) whales are hoarding meme coin Shiba Inu (SHIB) at an average value of over $3.6 million each.

The latest numbers from WhaleStats reveal the investment behavior of the 100 wealthiest non-exchange Ethereum addresses.

The whale-monitoring website shows the average Shiba Inu holdings are 463.5 billion SHIB tokens valued at $3,678,367, making SHIB the biggest altcoin holding among Ethereum whales, other than ETH itself and a pair of stablecoins.

The whale wallets are also keen on FTX Token (FTT), native asset of the popular FTX cryptocurrency exchange, with an average quantity of 140,652 tokens priced at $3,241,466.

Another crypto asset popular among the richest 100 ETH wallets is Bitpanda Ecosystem Token (BEST) as the investor group holds $1,744,057 worth of the token on average, good for a sixth-place finish.

Next up is CHSB, the native token for cryptocurrency wealth management platform SwissBorg. On average the whales hold over 6 million tokens for a total value of $1,103,966.

The crypto whale tracker also shows rich Ethereum investors are amassing crypto exchange MXC for $1.1 million, and wrapping up the top-10 is 3D virtual reality world Decentraland (MANA)to the tune of $818,039 for 1,039,782 MANA tokens.

The top three spots were held by Ethereum and then US Dollar Coin (USDC) and Tether (USDT), two stablecoins aiming to peg their value to the US dollar.

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Featured Image: Shutterstock/Sergey Nivens/karnoff