Shiba Inu replaced FTX Token as the top held position by dollar value among the top 500 Ethereum whales. Additionally, the 17th biggest cryptocurrency in the world in terms of the market cap also made it into the top 10 purchased tokens list in the past 24 hours.
Shiba Inu Ranks Among Top Favourite Tokens of ETH Whales
In the past 48 hours, an unknown whale accumulated 662.34 Billion SHIB tokens, equivalent to $5,283,139 ($5.28M), in its wallet in six separate transactions. This transaction led Shiba Inu to steal the top spot from FTX tokens during the widespread selloff in the global crypto market.
The popular memecoin now stands as the top held position by dollar value among the top 500 Ethereum (ETH) whales, according to WhaleStats. Currently, the largest of ETH whales has more than $459.60 Million worth of SHIB tokens.
The unknown whale became active once the widespread selloff in the global crypto market intensified, and Shiba Inu fell below its critical support level at $0.0000095 on the daily chart.
Related: Shiba Inu Community Disposes of 324 Million Tokens as Burn Rates Surges 332%
Etherscan.io data shows that the unknown whale now holds a total of 3,970,376,288,002 (3.97T) SHIB, worth $32,080,640 ($32.08M).
This significant purchase from the mysterious Whale has also helped Shiba Inu to make it to the list of top 10 purchased tokens by the 100 most giant ETH whales in the last 24 hours, according to WhaleStats reports.
Impact on SHIB Price
Shiba Inu is currently experiencing a market decline due to the recent Bitcoin crash, which has affected the general cryptocurrency market.
The Dogecoin killer is currently trading at the price of $0.000008022, down 0.09% over the last day, with a 24-hour trading volume of $409,849,361 ($409.84M).
Read more: Community Burned 1.04 Billion Shiba Inu in 7 Days as SHIB Slumps 25%
