Shiba Inu (SHIB) has now secured the position of the second most valuable cryptocurrency held by the top 500 Ethereum whales. It seems that ETH whales do not stop increasing their SHIB holdings whenever they have the opportunity.
SHIB ranked 2nd on the list of ETH whales
Whale-watching platform WhaleStats has shared the list to give you an idea of the most valuable cryptocurrencies held by the top 500 Ethereum addresses. FTX Token (FTT) took the first place in the list, while Shiba Inu (SHIB) took the second place.
According to WhaleStats data, the first 500 ETH addresses are the total number of cryptocurrencies. It has a combined $1,595,051,886 ($1.59 billion) worth of SHIB, representing 12.1%. The massive volume of Shiba Inu held by the top 500 addresses makes the cryptocurrency the second most valuable cryptocurrency held by these top whale addresses.
According to experts, the volume of Shiba Inu held among the top 500 ETH addresses shows the level of trust of whale investors in the popular dog-themed cryptocurrency. Experts say that the Shiba Inu, which has successfully uncovered beneficial projects, gives investors confidence that it is no longer a meme coin, but a utility token.
Shiba Inu projects and price performance
As we have covered in the news of Kriptokoin.com, some of the Shiba Inu projects launched last year include Non Fungible Token (NFT), a Layer-2 Blockchain, It is possible to give an example of a metaverse project and a decentralized autonomous organization called Doggy DAO.
The team behind the project also plans to issue a play-to-earn (P2E) game, a SHIB burn portal, and a stablecoin for the Shiba Inu ecosystem. According to experts, these attractive features continue to attract Ethereum whale investors who believe that the value of the token will increase tremendously in the near future.
Also, the top 100 Ethereum whales hold 2.331 billion SHIB, worth an average of $64,644,347 ($64 million) in the last 24 hours. This indicates the whales’ hunger for SHIB and the token popularity. Shiba Inu, which is ranked 15th according to CoinMarketcap data, was trading around $0.00002676 on major exchanges at press time, up 13.72% in the last seven days.
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