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- Shiba Inu becomes the biggest holding among leading ETH whales.
- It surpassed Silverway (SLV) to achieve this milestone.
- Shiba Inu is currently trading at the market price of $0.00001132, bullish by 3.43% during the past 24 hours.
Shiba Inu Surpasses Silverway In ETH Whale Wallet Holdings
The popular meme-cryptocurrency has made it to the news again. It is considered as the biggest rival to Elon Musk’s favorite crypto asset Dogecoin. This time the digital token has surpassed SLV crypto holding from top ETH whale wallets according to data offered by data aggregator WhaleStats.
Talking about the Ethereum whales, Shiba Inu has now become the biggest asset in terms of holdings in their wallets besides ETH. On an average, every whale in the top 100 list holds about $5.5 Million or 495.2 Billion SHIB. Though the size of holding is considerably smaller, it is still more than USDC, which is around $2 Million.
Setting Ethereum aside, the meme-coin makes up to 23.33% or $544.9 Million of these ETH whales’ wallets. This amount equals 49.5 SHIB tokens or 9% of the total SHIB circulation in the cryptosphere.
Why Are Ethereum Whales Going Into SHIB Waters
This has made it crystal clear that a myriad of investors are showing their interest into the meme cryptocurrency. As per the data, total holders have crossed the 1.2 Million mark. Though it is still unclear what is attracting the big players to gather such large piles of Shiba Inu tokens.
Reason behind this can be the active adoption of the meme-coin as a means of payment. There can be a couple of possibilities here. One is the optimism towards the price of Shiba Inu tokens. Another is that they are thinking of acquiring luxuries like country houses or yachts via the crypto asset.
Whatever the reason is, it appears that things are playing out in the favor of the meme-coin.
As of this writing, Shiba Inu was exchanging hands at $0.00001132, uptrending by 3.43% in the previous 24 hours.
Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.
