Shiba Inu ranks third largest held by whales, with another 50 billion SHIB scooped by top ETH whale
According to WhaleStats analysis of top ETH whales, Shiba Inu is currently the second largest investment by these top holders after the second most popular coin, Ethereum. Shiba Inu whales have become more active in the past 24 hours, with the number of large transactions increasing by 11%, according to IntoTheBlock data.
WhaleStats crypto tracker has reported that an ETH whale has bought 50,736,574,302 SHIB, or $1,106,564 worth. This comes after a massive purchase of 49.65 billion Shiba Inu, or $1,094,317 worth, the prior day. Shiba Inu is posting a rebound alongside the rest of the crypto market, trading up 2.16% at $0.219.
Whales keep piling up
Simply defined, a whale is someone who owns a lot of cryptocurrencies or is otherwise a big holder.
The top 100 Shiba Inu holders have likewise increased their portfolios, as WhaleStats reports a 292.18% rise in the average SHIB balance of this category of investor. The average SHIB value of their portfolio has also grown by 287.43%. Both volume and active addresses have grown by 248.27% and 15.38% over the last 24 hours, demonstrating healthy metrics.
At the top of WhaleStats’ list of Top 100 Shiba Inu Holders is a wallet called “Light.” The owner of this crypto address holds 35,121,281,443,997 Shiba Inu tokens, worth $770,209,702.
Shiba Inu’s burn rate is up 646%
Shibburn.com, a platform that tracks the statistics of burned Shiba Inu tokens, reports that in the past 24 hours, there have been a total of 51,983,850 $SHIB tokens burned and nine transactions.
As seen on the Shibburn website, the resulting transactions bring the total amount of SHIB burned to 54,877,540 SHIB, with the burn rate reaching 646%. The “burning” permanently removes a number of tokens from circulation and is meant to impact the price in the long run.
Real-world businesses are keen on adopting Shiba Inu as an accepted payment alternative. AMC Theatres recently announced accepting Shiba Inu online payments on its website.
