Shiba Inu (SHIB) is unquestionably highly well-liked among whales, particularly whales of Ethereum (ETH). Few crypto assets have the capacity to establish themselves as household names. This alternative currency has perhaps made the most noise since 2021 and has risen to the top of the cryptocurrency field.
The market capitalization of Shiba Inu once matched that of Dogecoin (DOGE). However, recently, cryptocurrency has fallen farther behind DOGE.
According to statistics from CoinMarketCap, SHIB, which has a market worth of $5.5 billion, is ranked 15th among all digital currencies. At the time of publication, it had spiked 1.1% in value over the previous day and was trading at $0.00001007.
It is not just SHIB, the entire SHIB ecosystem has been gaining whale attention. As per the data from WhaleStats, the SHIB governance token has emerged as one of the most used smart contracts among Ethereum whales.
ETH whales love to hold Shiba Inu
Data from WhaleStats also reveals that SHIB is the top-held token among the top 2,000 ETH whales. $124,490,426 worth of SHIB is currently being held by these whales. SHIB is followed by MKR, LOCUS, BIT, and UNI.
In a comparison of the holdings of the top 100 ETH whales, SHIB ranks fifth with $1,215,530 worth of SHIB. SHIB has been having one of its best years, not in terms of price, but in development. However, the team is and has been working on several projects. One of the recent ones that were out is the Shiba Eternity game, which was a hit.