Shiba Inu remains largely held asset among whale class, here's reason SHIB $SHIB ShibArmy SHIBCommunity Shibainu
The story was the same for the top 1,000 ETH whales who had SHIB as their biggest holding, which was worth $137,540,787 of SHIB. For the top 5,000 whales, SHIB was likewise their biggest holding. This whale class also held a significant amount of SHIB.The reason for SHIB's being largely held by whales might be due to its cheap valuation compared to major cryptocurrencies, specifically those in the top 20. At the time of publication, SHIB was changing hands at $0.0000108, down 1.
Per IntoTheBlock data, 32% of Shiba Inu holders are"hodling" based on long-term motives. Sixty-four percent of holders are in it for the midterm, while barely 3% are short-term spectators. Another reason might be positive expectations regarding SHIB projects. The Shiba Eternity game launched worldwide in the past week and gained traction shortly after launch to rank at the top of the App Store.Shiba Inu also keeps unveiling new concepts for its metaverse project. In the last 24 hours, Shiba Inu's large transaction, which acts as a proxy for whales' action, rose 145%.
However, the price of SHIB has underperformed this year owing to bearish market conditions. At the current price, SHIB remains down 87% from its all-time high of $0.000086, set in October 2021.
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