According to transactions tracker WhaleStats , Ethereum whales have increased their holdings of Shiba Inu ( SHIB ) by slightly over 580% from $736,000 to over $5 million in under 24 hours, in the process moving the Dogecoin competitor from being their seventh-largest holding to the second-largest holding.
Shiba Inu is now the top holding of the largest 100 Ethereum wallets after Ether.
Source: WhaleStats
Besides stablecoins and Ethereum, other crypto assets featuring among the top-10 holdings of the leading 100 Ether whales include Ethereum’s scaling solution Polygon ( MATIC ), the native token of decentralized virtual world Decentraland ( MANA ) and the utility token of the Cronos ( CRO ) ecosystem.
Shiba Inu is trading at $0.00001139 at the time of writing, up by about 6% in 24 hours.
The surge in the Shiba Inu holdings of Ethereum whales comes at a time when 69% of the holders of the 15th-largest crypto asset by market cap are underwater or holding the digital asset at a loss.
Only 27% of the Shiba Inu holders are in profit at the current price while 4% are at the break-even level.
About 26% of Shiba Inu holders have held the crypto for over one year while 70% have held the digital asset for between one to 12 months.
Four percent of Shiba Inu holders have held the crypto asset for less than one month.
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The post Ethereum Whales Pile Into Dogecoin Competitor Shiba Inu As Holdings Explode by Over 500% appeared first on The Daily Hodl .
