Whales Sell Shiba Inu: These 7 Altcoins Are In The Cart!

The biggest Ethereum whales prefer to sell the Shiba Inu, despite a good rally performance. LINK, UNI and MATIC fill the whale portfolios.

Whales now own less than $100 million Shiba Inu

The SHIB portfolios of the largest ETH whales fell below $100 million. In a recent tweet, whale watching bot WhaleAlert reported that the SHIB balance of Ethereum’s top 5,000 and top 100 whales fell below the $100,000,000 mark. This decline comes after three significant price increases this week. Looks like whales prefer to sell SHIB.

The high volatility shown by these big investors started just a few days ago. SHIB experienced three significant spikes during the week, the first of which occurred between October 25-27, where it rose 18.25% in two days. It gained 16% on October 28. It continues the momentum with a modest 8% gain earlier today. However, between October 27 and October 28, it experienced a decrease of 11.58%.

Ethereum whales hold Shiba Inu and these altcoins

WhaleStats data shows that the top 5,000 and top 100 whales currently allocate $94,297,394 to SHIB. Generally speaking, despite massive sales, whales still hold $122 million in SHIB. DeFi-focused projects like LOCUS and MKR are popular among whales alongside Shiba. Other top cryptocurrencies owned by whales are as follows:

1. Locus Chain (LOCUS)
2. Maker (MKR)
3. BitDAO (BIT)
4. Uniswap (UNI)
5. Chainlink (LINK)
6. Polygon (MATIC)
7. Moss Coin (MOC)

David Gokhshtein tweeting about Shiba Inu under attack

Former US politician David Gokhshtein recently tweeted that after discussing the Shiba Inu in his tweets, he received criticism from several Doge fans telling him that if he owns Dogecoin, he should not mention its rival SHIB.

Gokhshtein has tweeted frequently this year about both Dogecoin and Shiba Inu. He supported both of them even in the fall. He says he still has DOGE and deeply regrets that he wasn’t an early SHIB investor. He thinks the launch of these two meme tokens will attract a large number of new individual investors to the cryptocurrency market.

Is SHIB following in DOGE’s footsteps?

SHIB historically tracks DOGE rallies, according to current data from analytics firm Santiment. Shiba Inu has grown 19% in the past seven days following Dogecoin’s rise. Also, as can be seen below, some correlation was observed between both meme coins. DOGE and SHIB have also witnessed an increase in their respective trading volumes over the past few days.

Another factor that helped Shiba show the same growth as Dogecoin was the growing interest of whales. According to WhaleStats, the Shiba Inu was one of the most traded tokens by the top 2000 ETH whales on October 28. Also, at press time, the 5,000 largest Ethereum whales had Shiba worth $94 million.

As you follow on Kriptokoin.com, it is currently trading at $0.00001352 after subtracting a zero from the SHIB price. It gained double-digit value in the last 24 hours.