Shiba Inu Dominates Ethereum Whale List as 100 Whales Holds 31% of SHIB Supply

Updated:

Recent statistics from whale activity tracker WhaleStats show that Shiba Inu (SHIB) has re-emerged as the most preferred token for smart contracts among the 1,000-largest Ethereum (ETH) whales.

Meanwhile, the meme token maintained its position as the second-largest in the structure of the top 100 largest wallets, behind Ethereum. WhaleStats revealed that SHIB accounted for 17.92% or $505.7 million of the total portfolio of all Ethereum whales, which amounts to 45.4 trillion SHIB.

The report further explained that the average amount of SHIB held by a member of the top 100 is 3.1 trillion SHIB or $36.6 million SHIB worth. More importantly, the statistics revealed that a whopping 31% of all supply of SHIB is domiciled in the wallets of the top 100-largest Ethereum whales.

Shiba Inu continues to attract more giant crypto investors because of the perceived potential it carries. From being used by numerous vendors as a reliable method for receiving payment to actively working on projects across the entertainment and financial industries, Shiba Inu holds significant promise, and the developers are not taking any breaks.

The recent announcement of Marvel’s partners working on Shiba Inu’s Metaverse also sparked significant interest in speculators who continue to troop in.

Key Shiba Inu Levels to Watch — July 25

After briefly tapping its highest level since early May at $0.0000130, Shiba Inu has remained locked on a bearish decline towards $0.0000110, a 15% drop. However, the bearish pressure appears to fall off around $0.0000111, signaling ease in pressure as trading conditions enter oversold levels.

SHIBUSD – 4-Hour Chart on Binance. Source: TradingView.

Regardless, more correction might be on the horizon for SHIB, with the broader market tilting towards this possibility.

Meanwhile, my resistance levels are $0.0000120, $0.0000130, and $0.0000140, and my support levels are $0.0000110, $0.0000100, and $0.0000090.

Total Market Capitalization: $1.01 trillion

Shiba Inu Market Capitalization: $5.97 billion

Shiba Inu Dominance: 0.59%

Market Rank: #16

 

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.