Whales’ SHIB Holdings Fall Under $70 Million, Yet SHIB Army Hits New Milestone


Youri Molchan

Ethereum’s top whales keep throwing away their SHIBs and their stash keeps shrinking

According to WhaleStats, the tracker of the biggest wallets on Ethereum and a few other big blockchains, reported that the amount of SHIB held by the top 100 investors dropped below the $70 million level.

Despite this, the Shiba Inu army has taken another step forward, with the number of SHIB holders increasing dramatically.

Whales keep dumping SHIB

As of last week, the amount of Shiba Inu held by these wallets ranged between $86 million and $82 million. Now they have continued to sell the second largest meme coin as its price keeps dropping.

As of this writing, Ethereum’s top 100 whales hold 8,036,305,217,856 SHIBs valued at $68,301,754. This represents 3.09% of their compound portfolio, according to WhaleStats.

New milestone for SHIB army

Yet despite this, the SHIB army has taken another step in the past four days. The number of holders of this very coin jumped by just over 6,000 since the weekend. Now, it constitutes 1,282,333 against 1,276,281 observed on Saturday.

SHIB trading volume soars 7.5 million percent

Earlier today, CoinMarketCap reported that Shiba Inu trading volume skyrocketed by 7,449,053%. The possible reason for this was the movement of large quantities of SHIB by whales.

U.Today reported that just over a trillion SHIBs were moved in just a few pieces yesterday.

However, the coin meme remains in the lows and its price drops more and more. At press time, SHIB is changing hands at $0.000008633. Despite a 2.25% rally demonstrated by the meme coin, it is still trading 90.27% below the ATH of $0.00008845 reached at the end of October last year.

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