Smart Money Bitcoin, Not ETH: It’s Flowing To Altcoin!

The volatility in the cryptocurrency market continues. As the leading crypto Bitcoin moves back and forth around $20,000, altcoins follow suit. In this environment, the popular meme coin Shiba Inu (SHIB) has managed to maintain its position in the largest Ethereum wallets.

Biggest whales have $608.6 million worth of SHIB

Cryptocurrency investors and traders specifically follow investors with large amounts of crypto assets. Because the purchases or sales of these deep wallets have the power to affect the price of the relevant token. According to whale watching platform WhaleStats, the SHIB token has emerged as the largest token held by the 2,000 largest ETH whales. The data shows that these wallets hold approximately $608.6 million worth of Shiba Inu tokens. Meanwhile, whales are also accumulating $379.5 million worth of new tokens called “ShibDoge”.

However, SHIB is the second largest token held by the top 1,000 Ethereum wallets. These whales have approximately $592.9 million worth of SHIB tokens. Also, according to the data, the largest of the 100 ETH whales is holding $536.9 million worth of SHIB tokens. This corresponds to approximately 16% of its total holdings. Therefore, it is the largest token they have.

bitcoin

XRP whale collects Shiba Inu, not Bitcoin

According to the report, an XRP whale transferred approximately 20 trillion SHIB tokens from Binance to its wallet. The transfer is worth approximately $210.1 million. This was reported as the largest single transaction in SHIB history. The whale currently holds approximately 48.7 trillion Shiba Inu tokens.

The world’s second largest meme coin, meanwhile, has a market cap of more than $5.69 billion. With this market cap, it ranks 14th in the crypto league. SHIB was trading at $0.00001042 at press time, gaining 1.75% on a daily basis. In addition, SHIB prices have increased by 3.26% in the last 7 days. However, SHIB is about 88% off the all-time high of $0.00008845. The collapse in the crypto market has seriously damaged the dog-themed meme coin.

A new token is coming to the Shiba Inu ecosystem

Interest in the largest whales has probably increased due to the recent announcement by the Shiba Inu. AmkNews.comAs you follow, ShibaSwap’s lead developer, Shytoshi Kusama, announced that the Shiba ecosystem will launch a new token. In the announcement, it was stated that the new token will be named “TREAT”.

Kusama mentioned that the Treat token will first be used as a reward in the ecosystem. However, it was previously announced that BONE tokens will be used as rewards in Shibarium. Meanwhile, the new token will be used as a reward for everything but the generation of validators.

Disclaimer: The articles and articles on AmkNews do not constitute investment advice. AmkNews.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is AmkNews an investment advisor. For this reason, AmkNews and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, asset or service in this article.

Warning: Citing the news content of AmkNews and quoting by giving a link is subject to the permission of AmkNews. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of AmkNews in violation of intellectual property law and relevant legislation.

Larry Brown

I graduated from Yale University, Department of Television. I have been a professional news writer for 3 years. I am continuing my career here by establishing amknews.com site 3 months ago.