According to information shared by the famous blockchain data tracking site WhaleStats, the largest Ethereum whales have accumulated more than 1.7 trillion SHIB in the past seven days. It can be said that this development is mostly due to the increase in the price of SHIB in the last seven days. The meme coin touched as high as $0.000009315 in the last 24 hours before falling to its current price of $0.00000875.
The Shiba Inu has always been one of the whales’ favorite cryptocurrencies. This is also evident in recent whale actions. Data from WhaleStats also reveals that SHIB ranks fourth among the top 100 ETH whales in terms of trading volume.
Meme coin burns are slowing down
The burning rate, which had risen in the last few days of 2023, seems to have finally slowed down. According to Shibburn’s current data, the SHIB burn rate has decreased by 5.65% in the last 24 hours, and 23.794,629 SHIBs have been sent to dead-unused wallets during this period.
The burn rate had risen to over 34400% on 9 January. SHIB has lost 5.33% in the last 24 hours as the market appears to have reversed its direction after several days of green rallies.
biggest investment
The meme coin turned out to be one of its biggest assets held by Indian crypto exchange WazirX.
Cryptocurrency exchanges around the world continue to publish Proof of Reserves (PoR) following the collapse of FTX. In a recent development, India’s leading cryptocurrency exchange WazirX has become the last exchange to share Proof of Reserves. Local news outlet Business Standard reported that WazirX has $284.45 million worth of PoR. The Shiba Inu represents 19% of the exchange’s total reserves and ranks as the largest holdings of WazirX.
According to the report, WazirX owns a total of 6.09 trillion Shiba Inu (SHIB) tokens worth approximately $54.2 million. Interestingly, Shiba Inu is followed by Ethereum and Bitcoin, according to data shared by WazirX.
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