Shiba Inu (SHIB) Emerges As Biggest Token Held By Ethereum Whales

Shiba Inu (SHIB) token is facing unprecedented selling pressure. However, even in adversity the largest Ethereum (ETH) whale wallets are holding tight to their SHIB token.

ETH Whales Hoard $436 Million Worth Of Shiba Inu

Shiba Inu token has become the hot favorite of Ethereum Whales as per a well known whale transaction tracker which holds data of the holdings of top 100 ETH whales. Evaluation of the data reveals that the biggest wallets now hold around $436.3 million worth of SHIB tokens. However there has been a slight fall in the registered whale accumulation for the Shiba Inu Token.

One of the biggest contributors for making the Shiba Inu reaching the top has been the liquidation of FTX tokens by ETH whales which has left the field wide open. As per reports the top 100 ETH whales had hoarded more than $762 million worth of FTX tokens.

Shiba Inu Values Surge By 29%

The Shiba Inu values have surged by 15% in the past one day. At the time of going to press Shiba Inu was trading at $0.00001042 up 29%. It has a market cap of $5,731,100,955 and is the second largest meme cryptocurrency. It had a volume of $971,324,695 and a circulating supply of 549,063.28B SHIB. However, the much touted Dogecoin killer is still 90% down from its all time high (ATH) of $0.000088.

Shib has been able to maintain the momentum despite a massive price drop. The Shib Burn rate has also surged by 126% in the last 24 hours. In the past 24 hours over 216.05 million SHIB tokens have been has been burnt by the community. Since its inception 55.6 billion tokens have been burned