Ethereum Whales Still Hold a Lot of SHIB Despite Cutting Positions: Details

SHIB

ETH whales have reduced their SHIB holdings a lot, but the number is still impressive

according to the latest data whalestatsWhich tracks the portfolios of top Ethereum holders, the wallets of the top 1,000 ETH whales contain SHIB with a combined value of $133,680,683.

Despite the impressive value of the positions, their size was significantly reduced over the past 30 days. So, as of Aug. 25, the size of the SHIB position of this group of investors was $162,127,202.

Thus, the reduction of SHIB for the month in the portfolio of 1,000 largest whales was about $ 30 million, which, if we take the average value for this period of $ 0,0000117, equates to 2.6 trillion SHIB.

At the same time, the price of the Shiba Inu token also fell during the period under review, by around 20%. Comparing SHIB’s decline figures with the main cryptocurrencies on the market, Bitcoin and Ethereum, and its main competitor Dogecoin, a conclusion can be made that Shiba Inu has fallen harder.

Shiba Inu (SHIB) Approach

Despite everything, there is still over $130 million worth of SHIB left in the wallets of major Ethereum holders, and it seems to be a positive sign. Furthermore, the Shiba Inu remains the fourth largest cryptocurrency by position size among the hundred largest whales, behind only ETH, stETH and stablecoins.

To assess SHIB’s prospects and how the fundamental developments around the token are assessed by market participants, it is definitely worth monitoring whales’ positions. Thus, this same group of investors has been actively adding SHIB to their portfolios since late spring and parted with them during the 20% pump in mid-August.

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