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August 9, 2022

Ethereum Whales Continue To Accumulate SHIB

The global cryptocurrency market has declined by more than 3.30 percent in the previous twenty-four hours. However, the most popular meme tokens also suffered. The largest Ethereum (ETH) whales are taking advantage of the chance to “buy the dip.”

According to Whalestats, the ETH whale ‘BlueWhale0113’ purchased about 321 billion, 288 billion Shiba Inu (SHIB) in a single transaction. This sale cost the whale around $3.72 million.

As we go further, we find that the whale wallet is still holding $2.49 million worth of SHIB coins. It constitutes around 7.45% of its overall holdings. Meanwhile, Polygon (MATIC) is the largest token in the whale’s possession. It constitutes around 11.49 percent of the overall holdings.

The price of Shina Inu has decreased by more than 4 percent during the last 24 hours. Currently, SHIB is selling at an average price of $0.000012 per share. With a market valuation of almost $6.6 billion, it is still the second biggest meme token.

According to WhaleStats, the top 500 ETH whales have more than $652 million worth of Shiba Inu tokens. However, the largest token owned by the top 100 Ethereum whales is SHIB. They are holding Shiba Inu valued over $510 million.

Coin98 Insight revealed that the total 24 hour trading volume of meme tokens surpassed $1.2 billion. Shiba Inu recorded around $872 million in training volume. The 24-hour trading volume of SHIB increased by more than 40 percent, says Coinmarketcap.

However, the largest meme token, Dogecoin (DOGE), had the highest 24-hour trading volume, at $394 million. Over the last 24 hours, DOGE’s price has decreased by more than 4.30 percent. At the time of writing, the average price of Dogecoin is $0.0686.

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In the meanwhile, the total market capitalization of meme tokens has decreased by around 5% during the previous 24 hours. It is now worth $16,18 billion. The 24-hour trade volume has increased by a staggering 60 percent.