HomeNewsETH Whales Dive into Shiba Inu: $601M Worth Acquired

ETH Whales Dive into Shiba Inu: $601M Worth Acquired

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  • The top 100 ETH whales are now holding $601 million worth of Shiba Inu (SHIB), making it the fourth most-held token in their portfolios.
  • This renewed interest in SHIB follows the announcement from Shiba Inu’s lead developer, Shytoshi Kusama, about the imminent launch of the Shibarium Mainnet.

The cryptocurrency world never ceases to surprise, and Shiba Inu (SHIB) is taking center stage in the latest development. The top 100 Ethereum (ETH) Whales, the moniker given to entities with substantial holdings, have amassed an astounding 49.62 trillion SHIB in their wallets. This roughly translates to $601.20 million, thereby placing SHIB as the fourth most-held token among this high-net-worth group.

Ethereum continues to hold the top spot among the preferred cryptocurrencies for the ETH whales, with their combined holdings amounting to approximately 3.12 million ETH. With the prevailing market prices, this collective stash stands at an eye-watering value of $5.13 billion.

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However, diversification is key in the crypto world. Although ETH reigns supreme, the whales also hold substantial investments in other cryptocurrencies. The USD Coin (USDC), for instance, has found its way into the crypto portfolios of these heavy hitters, with a total holding of around 788 million USDC tokens. This investment is currently valued at approximately $789.05 million. Not far behind is Tether (USDT), with the top 100 ETH whales possessing about 706.99 million tokens, amounting to roughly $706.90 million.

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This surge in the whales’ interest in SHIB is not without reason. The anticipation around Shiba Inu’s ecosystem is escalating, especially after Shytoshi Kusama, the lead developer of Shiba Inu, announced the final preparations for the launch of the Shibarium Mainnet. This milestone was revealed in a recent blog post that also promised the release of the “Worldpaper”.

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The “Worldpaper” is expected to be a comprehensive document that outlines the various facets of the Shiba Inu ecosystem. It will delve into details about various tokens like SHIB, BONE, LEASH TREAT, and Shi, among others. It is aimed at offering an insightful view into the functionality and potential of these tokens, thereby further enhancing the allure of the Shiba Inu ecosystem. With these developments underway, the future of Shiba Inu and its impact on the crypto portfolios of ETH whales will undoubtedly be a space to watch.

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Jack Williams
Jack Williams
As a Blockchain Analyst, I specialize in analyzing the performance of decentralized systems and optimizing their efficiency. Through data analysis, I provide insights on blockchain technology, smart contracts, and cryptocurrencies to help businesses make informed decisions and improve their operations.
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