According to wallet tracker WhaleStats, the second largest meme coin Shiba Inu has once again made it to the list of top 10 crypto assets held by whales. However, these largest wallets on the Ethereum chain are holding far fewer Shiba Inu than last month and the first half of December. In the last few months, the amount of Shiba Inu coins held by the top 100 wallets on Ethereum has dropped by nearly half.
Whales’ SHIB holdings drastically shrunk
The WhaleStats data on the website shows that the total amount of Shiba Inu held by the largest ETH investors is $44,294,390 worth of SHIB. That’s nearly a million dollars more than the value recorded on Thursday. Currently, this amount is equivalent to 5,536,571,068,398 meme coins, or 1.99% of the total crypto portfolio created by whales.
However, at the end of November, this value was twice as large and was around $80 million. In early December, it was worth about $74 million. Overall, since the collapse of FTX in the first days of November, the SHIB price has dropped significantly, “added another zero” to its price, and is currently sitting at $0.000008011. This may be the main reason why whales have drastically reduced their SHIB investment.
Meme coin sometimes tries to break into the top 10 on the list of coins most bought by whales, as it did on Thursday, December 29. succeeds.
Multiple Shibarium tips raise the price
Over the past two weeks, lead SHIB developer Shytoshi Kusama has stated that the long-awaited launch of the Shibarium Layer 2 protocol will happen “very soon.” Shytoshi has announced that the Shibarium beta will launch “very soon.” The Shibarium founder confirmed this in a recent tweet released after his meeting with the Unification team.
SHIB’s price responded to the news by rising just over 3%, but has so far outstripped those gains.
You can follow the current price action here.