Ethereum Whales Pile Into Dogecoin Competitor Shiba Inu As Holdings Explode by Over 500%

Ethereum Whales Pile Into Dogecoin Competitor Shiba Inu As Holdings Explode by Over 500%


Ethereum (ETH) whales are aggressively increasing their holdings of a Dogecoin (DOGE) rival as the crypto market stages a modest recovery.

According to transactions tracker WhaleStats, Ethereum whales have increased their holdings of Shiba Inu (SHIB) by slightly over 580% from $736,000 to over $5 million in under 24 hours, in the process moving the Dogecoin competitor from being their seventh-largest holding to the second-largest holding.

Shiba Inu is now the top holding of the largest 100 Ethereum wallets after Ether.

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Source: WhaleStats

Besides stablecoins and Ethereum, other crypto assets featuring among the top-10 holdings of the leading 100 Ether whales include Ethereum’s scaling solution Polygon (MATIC), the native token of decentralized virtual world Decentraland (MANA) and the utility token of the Cronos (CRO) ecosystem.

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