Shiba Inu (SHIB) price drops appear to have drawn acquisition from holders of the largest Ethereum wallets.
Shiba Inu price fell 3% in the last 24 hours, erasing the majority of their recent gains, mirroring larger dips in the crypto market. Top Ethereum (ETH) whales, on the other hand, have regularly expressed interest in the token.
According to WhaleStats, the SHIB token has once again flipped the FTX token to become the largest token owned by the top 100 ETH wallets. Ethereum whales appear to be on a buying binge. In the last 24 hours, SHIB token was among the top ten tokens purchased by ETH wallets.
SHIB coins are now valued more than $1.2 billion to top Ethereum whales. It accounts for more than 14% of its overall holdings. According to the statistics, an ETH whale known as “BlueWhale0073” has added more than $7 million in Shiba Inu tokens in the last 24 hours. Meanwhile, the world’s second largest meme cryptocurrency may be found on the list of smart contracts most commonly employed by ETH whales.
FTX has officially surpassed ETH as the second most valuable token held by ETH whales. Top wallets currently contain more over $1 billion in FTT tokens. It accounts for more than 12% of the whales held. Shiba Inu just developed a token burning portal in order to reduce its supply.
Since its start, nearly 17 billion SHIB tokens (worth around $404K) have been delivered to a dead wallet, according to the Shibaburn portal. However, SHIB’s 24 hour trading volume of $712,882,041 has dropped by more than 35%.
The recent Robinhood listing and creation of its own Metaverse, as well as other projects surrounding it, may have given the SHIB token a boost. While the BTC price drop has shook the entire crypto market. Bitcoin has fallen by roughly 7% in the last 7 days, whereas SHIB has fallen by 8% in the same period.