Shiba Inu defeats FTX tokens to become the largest holding on Ethereum whale-tier addresses as SHIB Whales scoop up $300 million worth of tokens in the last 24 hours.
Shinu Inu now have the largest holding among the Ethereum chain
The stalemate between the two assets was previously covered by U.Today, with FTX taking top place after Shiba Inu lost around $150 million in capitalization among the Ethereum chain’s largest addresses.
SHIB holdings on whale-tier locations were assessed at $1.4 billion on January 4th. The value of the holdings as of January 5 was $1.7 billion.
The $300 million increase in the value of whale holdings might be attributed to both SHIB price increases and whales’ large purchases of tokens.
In terms of the price gain, SHIB is currently selling at a profit of 1.2 percent, which is nowhere near the $300 million increase in value.
SHIB Market Performance
Additional market parameters such as volume, number of active addresses, and net flow do not appear to be improving, with market volume remaining at $3.7 million, a decline of 86 percent.
Shiba Inu’s market performance has also shown no signs of recovery or any indications of a trend change, with the asset moving with a seven-day low daily volatility.
The price of SHIB is currently holding steady at the same level as it was in December.
Shiba Inu is currently trading at $0.000032, having lost 14% of its value since hitting a high on Dec. 28. The coin is presently trading at $0.000029, which is the lowest point in its history.