Top ETH whales add $10 million worth of SHIB to their holdings as total number becomes colossal
According to a WhaleStats report, the top 100 Ethereum holders have increased their positions in SHIB by about $10 million since the end of October. This group of investors is now worth 8.21 trillion SHIB, which is roughly equivalent to $100 million.
Shiba Inu (SHIB) currently has a 4% share in the total portfolio of Ethereum’s largest holders, with only stETH and WBTC having larger shares apart from stablecoins and ETH. Remarkably, driven by the DOGE narrative, the SHIB price pump started on just Oct. 28. At the time, Shiba Inu quotations headed north by more than 40%, but by today, after a wave of sell-offs, they had lost a third of that increase.
However, according to the trading history of this group of investors, the recent SHIB price action and whale movements have not become a contiguous event as it did on previous occasions.
Shiba Inu ecosystem developments
As described above, SHIB’s price has largely followed the price of DOGE, which in turn flew off on the news of Musk’s purchase of Twitter. However, Shiba Inu as a standalone project announced a number of innovations and news that strengthened the foundation of SHIB’s price.
This news mainly concerns Shiberium, which is the layer 2 solution of the Shiba Inu. According to the lead developer, with the release of Shiba Eternity, the focus of the development team is now shifting to work on the long-awaited protocol.
