Friday, October 7

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.

Read Also: SHIB Army Burns 1.6 Billion Shiba Within 24+ Hours as Coin Loses 3%

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.

Read Also: Shiba Inu Burn Portal Slams New Milestone with 15 Billion SHIB Burned

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.

Share this:

2 Comments

Leave a Reply

Your email address will not be published.