• Shiba Inu Reclaims First Place Among the Top 100 Ethereum Whales

  • According to the most recent data, the king is back in first place, with whales holding nearly $1 billion.

    The long-time rival FTX token is back in second place, with approximately $880 million FTT held by the largest Ethereum addresses. A total of $990 million SHIB is concentrated in the hands of the top 100 Ethereum wallets, indicating that there is still interest in the memetoken.

    Previously, Shiba Inu did not even make the top five of the market’s largest USD-valued holdings, according to WhaleStats. Other top tokens are either wrapped versions of cryptocurrencies such as Bitcoin or stable assets such as USDT and USDC.

    Whales are still afraid, according to the market holdings distribution, because the third and fourth largest holdings are stable solutions. Whales are actively de-risking their portfolios more than they were last summer.

    A large portion of Bitcoin held by whales’ addresses should also be considered as part of a de-risking strategy, as the first cryptocurrency is less volatile than assets with lower capitalization.

    Market capitalization for Shiba Inus

    Unfortunately for all SHIB holders, the memetoken shows no signs of reversal and has remained rangebound since the beginning of February, indicating a lack of retail interest, which is the main fuel for any rally on the cryptocurrency market.

    With more whales now holding Shiba Inu, the Shiba Inu community anticipates a more explosive bullrun when retail funds return to the cryptocurrency market.

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