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Shiba Inu Becomes ETH Whales' Favorite token choice; Here's Why

07-Jul-2022 By: Ashish Sarswat
Shiba Inu Becomes ET

Shiba Inu Becomes ETH Whales' Favorite token choice; Here's Why

In spite of the heightened volatility in the global cryptocurrency market, Shiba Inu (SHIB) toke has been able to maintain its position in the largest Ethereum (ETH) whale wallets.

Top 2k whales are carrying SHIB worth $608.6 Million.

The SHIB token has emerged as the largest token held by the top 2000 ETH whales, according to WhaleStats. According to the data, there are currently $608.6 million worth of Shiba Inu tokens stored in these wallets. In the meantime, whales have also gathered "ShibDoge" tokens worth $379.5 million.

The second-largest coin owned by the top 1000 Ethereum wallets is SHIB, nevertheless. They have Shiba Inu tokens worth about $592.9 million.

The greatest of the 100 ETH whales, according to the data, is holding $536.9 million worth of Shiba Inu tokens. About 16 percent of its total holdings are taken by it. It is the largest token they possess.

Shiba Inu whale adds 20 trillion XRP

Approximately 20 trillion SHIB tokens were transferred from Binance to its wallet, according to the report, by an XRP whale. The transfer was estimated to be worth $210.1 million. According to reports, this was the single largest transaction in SHIB history. Currently, the whale has 48.7 trillion Shiba Inu tokens in its possession.

At the time of publication, the Shiba Inu was trading for an average price of $0.000010. Over the last week, SHIB prices have increased by 6%. With a market valuation of more than $5.69 billion, the second-largest meme token in the world is now trading.

The latest proclamation made by the Shiba Inu is believed to have piqued the interest of the largest whales. ShibaSwap's principal developer, Shytoshi Kusama, said that a new token will be introduced to the Shiba ecosystem. The new coin will be called "TREAT," according to the press release.

The Treat token will initially be utilised in the ecosystem as a reward, according to Kusama. However, it was previously stated that Shibarium will employ BONE tokens as a form of payment. The new token will be used as compensation for all activities other than the creation of validators in the interim.

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