© Reuters.Shiba Inu (SHIB) Sees Massive Influx Of Ethereum (ETH) Whales – Here’s Why
Popular dog Memecoin (SHIB) is once again in the spotlight of (ETH) whales. According to the WhaleStats tracking tool, SHIB is currently the top cryptocurrency held by the TOP 2000 ETH whales. At the moment, the TOP 2000 whale is hoarding his SHIB tokens in a huge amount of $76,473,563.
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The top 2000 #ETH whales are hodling$76,473,563 $SHIB$49,447,360 #UnknownToken$47,891,507 $UNI$36,391,755 $BIT$36,140,896 $BEST$34,981,213 $LINK$32,548,362 $LOCUS$32,067,798 $MOCWhale leaderboard https://t.co/R19lKnPlsK pic.twitter. com/As4G5xhzgr
— WhaleStats (Virtual Whale Tracking) (@WhaleStats) December 2, 2022
Crypto Winter Sounds Alarm Bells for Ethereum Whales
On top of that, yesterday SHIB gave birth to a baby whale as 1.2 trillion memecoin tokens were transferred to a single wallet and rounded up to $12,022,511 upon transfer. ShibaSwap (BONE) has also been acquired by the largest ETH whale.
This may be due to the fact that the SHIB community is patiently waiting for an upgrade of Shibarium, which is supposed to transport memecoin to a self-sufficient ecosystem. Many cryptocurrency enthusiasts expect the market price of his BONE to rise significantly after the launch of Shibarium, which is why BONE is below the $1 multi-year support level.
Last month, a furious number of Shiba Inu went up in flames
The SHIB burn formula may be trending among the SHIB forces as many crypto enthusiasts want to see its market value rise again. , indicating that the SHIB army may lack motivation to burn coins regularly.
For example, 666,903,322 SHIB tokens were sent down the bottomless pit in November alone. This was achieved with 149 transactions, not including his SHIB burning stats from side projects such as the SHIB SuperStore.
666,903,322 $SHIB tokens were burned in November with 149 trades. #sib #shiba mee
— Siburn (@shibburn) December 1, 2022
on the flipside
- According to Etherscan, the total number of SHIB holders has dropped significantly since last week, despite growing interest from ETH whales.
- Members of the SHIB Army argue that the current SHIB burn rate is not sufficient to affect the coin’s market value.
why you should care
Memecoins have played a key role in retail adoption, often leading the rise of altcoins.
Check out the latest memecoin news:
Shiba Inu (SHIB) Community Reacts to Binance Tip on Bone ShibaSwap (BONE)
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