Shiba Inu Disappears from Top 3 of Biggest Whale Holdings: Details
The most recent post from WhaleStats, which shares data about Shiba Inu’s place on the market among the biggest whales on Ethereum, may have confused some users that used to see SHIB as the biggest USD-valued asset on the market.
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In the most recent post, some users became confused as they saw Shiba Inu’s holding value staying at approximately $409 million, while the most recent data shared by cryptolifedigital suggested that SHIB returned to first place with approximately $1.4 billion held by the biggest addresses on Ethereum.
The confusion may have appeared because of different settings on the tracker’s website. WhaleStats usually offers user data collected from the 500 biggest addresses on the network. But in the most recent post, the tracker shared data from the 100 biggest addresses that hold significantly fewer SHIB tokens than the other 400.
As stated by the website, Shiba Inu is now sixth place among the biggest holding on the Ethereum network. According to similar data with different settings, Shiba Inu remains the biggest USD-valued holding with approximately $1.4 billion worth of tokens held at various addresses.
Shiba Inu’s market performance
The memetoken’s performance on the market remains stagnant with no volatility increases in the last few months. SHIB remains in a descending triangle pattern, with the volume and liquidity constantly decreasing on the market.
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Initially, cryptolifedigital, described why massive whale buys are not affecting the price of the token as greatly as may have been expected. The major reason was that purchases of billions of SHIB tokens are being done without using centralized or decentralized exchanges and are mostly done via OTC desks or even private trading.
Cryptolifedigital is a cryptocurrency blogger and analyst known for providing insightful analysis and commentary on the ever-changing digital currency landscape. With a keen eye for market trends and a deep understanding of blockchain technology, Cryptolifedigital helps readers navigate the complexities of the crypto world, making informed investment decisions. Whether you’re a seasoned investor or just starting out, Cryptolifedigital’s analysis offers valuable insights into the world of cryptocurrency.
