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The world’s largest Ethereum [ETH] whale continues to bet bullish on the memetic currency SHIB. But the problem is still summarized in the latter price. Did whale confidence in the SHIB help with signs of suffering from increased value?
This is the answer
Shiba Inu’s native token SHIB is leading the race to become one of the most used smart contracts among the top 1,000 ETH whales.
WhaleStats, a portal that tracks the behavior of major Ethereum holders, highlighted this development in a tweet on July 24th.
JUST IN: $SHIB @Shibtoken one of the MOST USED smart contracts among top 1000 #ETH whales in the last 24hrs🐳
We've also got $BNT, $BOND, $MATIC, $CVX & $AAVE on the list 👀
Whale leaderboard: https://t.co/jFn1zIOq03#SHIB #whalestats #babywhale #BBW pic.twitter.com/qgYieXtArN
— WhaleStats (free data on crypto whales) (@WhaleStats) July 24, 2022
According to the portal, SHIB has a 19.04% share of the total portfolio of all ETH whales, or $ 548.6 million, which is $ 49.3 trillion in SHIB. The detailed ranking is shown below.
Despite some problems in the past, there is no doubt that these dominant buyers have shown confidence in the flagship network. Think of “Blue Whale 0159” as having acquired a huge mass of Shiba Inu, as tokens are the whale’s largest possession. According to Etherscan, the whale has acquired $ 50,000,000,000 worth of SHIB. That’s $ 1,750,500.
Such a strong demand is closely related to the burning from the overall distribution of SHIB tokens. Mainly in the hope of raising the price of tokens. A total of 110,289,311 SHIB tokens have been burned in the last 24 hours of the press. In addition, as of July 23, nearly 200 million SHIB tokens have been phased out in the last four days after one billion SHIBs were burned.
SHIB Expected vs. Reality check
In particular, Shiba Inu has emerged as one of the top 15 crypto assets by market capitalization. This is happening in the recent uptrend of assets involving other cryptocurrencies. In fact, it overtook Tron (TRX), which has recently been ranked 16th.
In addition, Shiba Inu has built a high profile relationship with Marvel’s premier pre-visualization company. Another bullish development.
However, despite whale confidence and the above developments, SHIB prices did not rise significantly. At the time of this writing, SHIB was trading at a level of $ 0.000013, so it received a new 1% adjustment.
