Ethereum Whales Hold 122 Billion Units of Shiba Inu on Average

Ethereum Whales Maintain Strong Positions in Meme Tokens

Ethereum (ETH) whales continue to show significant interest in meme cryptocurrencies, even as the broader market trades in the red. According to recent data from WhaleStats, a platform tracking crypto whale activity, Shiba Inu (SHIB) leads among the top 1000 most substantial ETH whales over the past 24 hours.

On average, these whales hold over 122 billion units of SHIB, highlighting the meme token's enduring popularity. SHIB also ranks among the top 10 most traded tokens by volume, further cementing its position as a favorite among large investors.

Key Holdings of Ethereum Whales

The top 1000 ETH whales currently hold:

• Ethereum (ETH): Each whale holds an average of 16,396 units, equivalent to $21,343,337.
• Stablecoins: USDC and USDT remain prominent, reflecting their utility in crypto transactions.
• Lido Staked Ethereum (stETH): This token ranks second by dollar value, with whales holding over $1.2 million worth of stETH on average.
• Other Tokens: Wrapped Bitcoin (WBTC), FTX Token, Uniswap (UNI), and Shushi are also part of the whales' portfolios.

Binance Chain Whales Compete with Ethereum Whales

Whales on the Binance Chain (BSC) are actively competing with their Ethereum counterparts. In the last 24 hours, BSC whales have held an average of $4 million worth of BNB and $3.5 million worth of BUSD. Additionally, the LYO Credit token (LYO) ranks as the token with the highest dollar value on the Binance Chain.

The Rise of SHIB Among Whales

SHIB's dominance among Ethereum whales underscores the ongoing appeal of meme tokens in the crypto market. Despite market volatility, large investors continue to accumulate SHIB, driving its trading volume and visibility. This trend highlights the speculative nature of crypto investments and the influence of whales on market dynamics.

As crypto markets evolve, the activity of whales remains a critical indicator of trends and sentiment, making platforms like WhaleStats invaluable for traders and investors.