Since Thursday, these top Ethereum whales have dropped roughly $33 million worth of Shiba Inu
The WhaleStats data aggregator, which focuses on the top 5,000 whales on the Ethereum chain, shared that in the past 24 hours, the SHIB holdings of these big investors have reduced the value of this meme cryptocurrency by about $33 million.
In the meantime, over the same period of time, the price of the second biggest canine token, SHIB, has dropped 13%. Here’s how much Shiba Inu they hold now.
SHIB worth $158.5 million is owned by whales
Looking at the data from the table of crypto holdings on the WhaleStats website, the amount of SHIB held by the top 100 whales has decreased significantly. These whales now have $158,492,174 worth of SHIB in their wallets, compared to the Shiba Inu’s value of a little over $191.2 million.
The difference here is nearly $33 million in SHIB. This token now comprises roughly 5% of the whales’ portfolio overall.
It is worth noting that coins previously popular with whales, such as FTX and MATIC, have disappeared from the top 10 list of holdings, with only LINK, UNI and MANA remaining at the bottom spots on it.
SHIB, however, remains firmly on this list, even though it is not holding the top one or two places any longer.
Mysterious wallets burn 201.6 million SHIB
Shibburn crypto tracker tweeted that in the past few hours, a mysterious wallet is expiring -ed4a99 sent a total of 101,660,453 Shiba Inu to an “Inferno” wallet, locking it there permanently.
According to the same website, eight hours ago, a lump of 100,593,618 Shiba Inu was removed from circulation too. This time, it was the Shibburn team, as per the list of transactions.
SHIB dropped 13%
Since Thursday afternoon, the Shiba Inu price is down 13%, ending its recent short-term rally and falling from $0.000001468 to the current level of $0.000001277.
Basically, SHIB has now returned to the levels it held at the beginning of August. Overall, since Aug. 15, Shiba has lost 26.5%.
Bitcoin and Ethereum also started a sudden decline earlier today. King Crypto has dropped below $22,000 and is now trading in the $21,400 zone. Ethereum price declined below the $1,700 level and is continuing to decline.
It is known that a certain group of miners has contributed to the BTC price fall as they sold nearly 6,000 BTC worth $142 million over the past two weeks prior to the start of the decline.
