Shiba Inu Becomes Top Altcoin Among Ethereum Whales As Crypto Markets Awaken: WhaleStats

The largest Ethereum (ETH) whale is investing heavily in the popular Memecoin Shiba Inu (SHIB) as the cryptocurrency market shows signs of life, according to on-chain data.

Blockchain Tracking Service WhaleStats report That SHIB is the top altcoin holder among the largest 1,000 ETH whales, excluding ETH itself, stablecoins Tether (USDT) and USD Coin (USDC), and Lido Stake Ether (stETH).

The top ETH 1,000 wallets hold over $161.8 million in SHIB, representing about 5% of total holdings.

The Shiba Inu is trading at $0.000011 at the time of writing. His 15th largest crypto asset by market capitalization has risen 21% over the past 7 days, while he has fallen 3.84 over the past 24 hours. The Dogecoin (DOGE) competitor is down more than 87% from his October 2021 all-time high of $0.00008616.

After SHIB, the next preferred investment for the top 1,000 ETH whales is the Bitpanda Ecosystem Token (BEST). Bitpanda is an investment platform for cryptocurrencies, stocks and precious metals. The top 1,000 whales he owns the platform’s tokens worth $145.1 million, about 4% of the holdings.

BEST is trading around $0.331 at the time of writing, down 0.7% over the past 24 hours.

Next on our list is the Ethereum-based stablecoin Dai (DAI). Top 1,000 Whales He owns $104.5 million worth of stablecoins, about 3% of the holdings.

Rounding out the list is BitDAO (BIT), a decentralized autonomous organization (DAO) that allows BIT holders to support the ecosystem of crypto projects. The largest 1,000 ETH whale holds his BIT tokens worth $64.84 million.

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