The Cryptocurrency market is renowned for its unpredictable price movement. This has resulted in the push and pull market structure by bulls and bears. In the midst of the crypto market dump, the biggest Ethereum whales are finding an opportunity to buy the dip for the tokens like Shiba Inu.
Ethereum Whale Acquires Shiba Inu Tokens
The Shiba Inu price has declined by 3.99% in the last 24hrs trading at $0.00002318 at the time of writing. But the top Ethereum whales have been accumulating the SHIB tokens.
According to WhaleStats, an analytics firm, the SHIB token has now overtaken the FTX token to enter one of the largest tokens held by the biggest 100 ETH wallets. This now points out that Ethereum whales are on a buying spree as the SHIB token is positioned as top 10 tokens purchased by ETH wallets in the last 24hrs.
Top Ethereum whales are holding around $1.2 billion worth of SHIB tokens. As per the data, an ETH whale is known as “BlueWhale0073” has acquired over $7 million worth of Shiba Inu Tokens in the last 24hrs.
FTX token is now the second-largest token that is held by ETH whales after Shiba Inu acquired the first position. The top wallets now have over $1 Billion worth of FTT tokens.
17 billion SHIB Tokens Burnt!
To reduce the Shiba Inu Token’s supply, the Shiba Inu launched its token burning platform known as the Shibaburn portal. As per Shibaburn Portal’s data, over 17 billion SHIB tokens have been burnt or sent to a dead wallet since its inception. This 17 billion burn accounts for approximately $404K.
Meanwhile, Shiba Inu’s trading volume over the last 24hrs stands at $712,882,041 with a decline of over 35%.