In a big development, Shiba Inu (SHIB) has flipped the FTX token(FTT) to become the largest token by dollar value held by the top 1000 Ethereum (ETH) whales, as per WhaleStats. FTT token was on top of the ETH whales’ list for a considerable long time. Now, the largest of ETH whales holds more than $1.6 Billion worth of SHIB token. The coin’s 24-hour trading volume has seen a surge of 30%.
Are ETH whales buying the dip?
Shiba Inu seems like creating new milestones every week and now but this time it looks like ETH whales have bought the dip. As per WhaleStats, SHIB has managed to become the top choice of ETH whales by replacing the FTX token.
? JUST IN: $SHIB @Shibtoken had flipped $FTX to be biggest token position by dollar value among the top 1000 #ETH whales#Shib #ShibArmy
— WhaleStats – BabyWhale ($BBW) (@WhaleStats) March 7, 2022
SHIB token makes 18.71% of the total holdings by the largest ETH whales, while now FTT stands at 16.26%. Talking about the worth of coins the largest of ETH wallets holds, Shiba Inu amounts to be more than $1.6 Billion of the total holding. Similarly, FTT, now the second-largest coin held by whales, is worth $1.4 Billion of the total holding.
As we dig in, the SHIB token holds the ninth position on the list of the top 10 coins purchased in the last 7 days. However, Shiba Inu is also placed at the eighth spot on the top 10 coins sold by the biggest ETH whales in the last 30 days.
Can SHIB price surge in the future?
As soon as the Shiberse is approaching, Crypto whales and enthusiasts are adding more and more coins to their wallets.
Recently, Wirex, a digital payment platform, listed the Shiba Inu (SHIB) alongside five other tokens. Meanwhile, Shibburn announced that they have burned over 436 Million of the Shiba Inu coins in the last 7 days.
In the last 7 days, there have been a total of 436,364,849 $SHIB tokens burned and 80 transactions. #shibarmy
— Shibburn (@shibburn) March 6, 2022
The second-largest meme coin saw a marginal gain of 0.41% in the 24 hours. The coin is trading at an average price of $0.000023, at the press time. However, SHIB’s 24-hour trading volume has seen a surge of 24%. As per Coinmarketcap, Shiba Inu is the 15th largest coin with a total market value of over $12 Billion.
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Source: https://coingape.com/shiba-inu-flips-ftx-ftt-become-largest-token-held-eth-whales/