The top 100 Ethereum holders have been increasing their position size in the Shiba Inu token, with an average of 3.96 trillion SHIB added in the past week. This brings the average position size of these whales to 154 billion SHIB, equivalent to $1.54 million. Shiba Inu tokens currently make up 5% of these investors’ total portfolio, worth $153.79 million in total.
According to WhaleStats, SHIB is currently the fourth-largest crypto asset in the portfolios of these whales, following stablecoins and Ethereum itself. Surprisingly, SHIB even surpasses stETH in terms of value. The largest influx of Shiba Inu tokens into the wallets of major Ethereum holders was observed on January 13 when SHIB reached $0.000011, a two-month high.
With the bullish trend continuing, it is possible that the share of whales in SHIB will further increase. In the summer of 2022, these investors held over $600 million worth of SHIB tokens, so there is potential for even greater growth in their holdings. However, investors should be cautious as the market can be unpredictable and it is important to conduct thorough research before making any investment decisions.
The data from WhaleStats provides valuable insights into the behavior of major Ethereum holders and their interest in the Shiba Inu token. By closely monitoring the movements of these whales, investors can gain a better understanding of market trends and potentially make more informed decisions. As SHIB continues to gain popularity and attract more attention from investors, it will be interesting to see how the landscape of the crypto market evolves in the coming weeks and months.
In conclusion, the increasing position size of the top 100 Ethereum holders in the Shiba Inu token suggests growing confidence in the project among major investors. With SHIB now ranking as the fourth-largest crypto asset in their portfolios, it is clear that the token has gained significant traction in the market. As the bullish trend continues, it is important for investors to stay informed and exercise caution when entering the market. By staying up to date with the latest data and trends, investors can make more informed decisions and potentially capitalize on the opportunities presented by the crypto market.
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