Shiba Inu flips FTX exchange to be substantial token position

Shiba Inu is one of the crypto projects that began as a joke but made investors billionaire. Its enormous gains have helped to build an enormous community. Moreover, developers of the project are working on achieving its roadmap. Notably, the crypto project and FTT keep flipping each other as the largest token by dollar value by the top 1k Ethereum whales. And recently, SHIB has managed to surpass the FTX Token this time.

Ether whales are betting on Shiba Inu

According to a report published by WhaleStats, SHIB, the meme-copin has overtaken FTX Token, the native cryptocurrency of the FTX exchange. And now Shiba Inu is an asset that constitutes the biggest USD value in the wallets of the top 1k Ethereum whales. According to data, the total holding value of the cryptocurrency in USD constitutes a whopping over $1.66 billion.

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However, the metrics shared on Twitter changed quie fast. In the current scenario, FTX is again above the meme-coin. Notably, the amount of FTT held by the top 1k Ether whales totals above 155 worth $1.29 billion. 

Notably, it is one of the second largest holdings after ETH. As for SHIB, above 13% is being held by Ether whales.

SHIB achieves a new all-time high.

According to data from WhaleStats, it is reported that the number of people holding SHIB has reached a new record. Indeed, Shiba Inu is held by more than 1,160,000 holders.

Observing some data on Twitter, we have observed that the largest 1k ETH whale wallets are now holding a staggering 55,732.5 billion SHIB tokens. Notably, the figure is equivalent to about $1.2 billion in fiat.

SHIB developers continues to burn tokens

The SHIB community has continued to remove the token from circulation. According to data from EtherScan, it is noted that the community has burned more than 156.3 million worth tokens. All the SHiba Inu tokens have been permanently locked in a non-spendable wallet for good.

Notably, the largest transfer that burnt the token carried 30 million and 20 million tokens. According to data published on Twitter by a user, it is revealed that over the last 24 hours, more than 88.8 million SHIB were destroyed. It took 11 transactions to do so.