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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Shiba Inu (SHIB) Ranks No. 1 In Top 5,000 ETH Whales’ Crypto Holdings

Christian Encila
Christian Encila
2 years ago
4 mins read
Shiba Inu

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Shiba Inu (SHIB), the dog-themed crypto that once dreamed of flipping Dogecoin, is not in solid footing these days as it continues to fail in finding the right rhythm to bounce back and push its price to higher levels.

According to latest data from Coingecko, at the time of this writing, the meme altcoin is trading at $0.00000931. Although it managed to climb by 1.5% over the last 24 hours, the asset is still down by 8.5% during the past seven days and by 27.7% over the last two weeks.

  • Shiba Inu lost almost 28% of its value over the last week
  • Within the next five days, SHIB is expected to trade at $0.00000902
  • SHIB EMA suggests it will once again be caught in a bearish momentum

By virtue of its $5.48 billion overall valuation, SHIB managed to climb one step up the ladder, claiming the 13th place in Coingecko ranking of cryptocurrencies according to market capitalization.

This, however, did not happen because Shiba Inu was in a decisive bullish rally, but because the broader crypto market continues to struggle following the collapse of one of the world’s largest and leading exchange platforms, FTX.

? The top 5000 #ETH whales are hodling

$75,289,824 $SHIB
$58,694,355 $MKR
$50,253,460 $UNI
$43,593,452 $LOCUS
$39,330,252 $BIT
$33,105,058 $BEST
$31,725,680 $LINK
$29,067,831 $CHZ

Whale leaderboard ?https://t.co/kOhHps8XBB pic.twitter.com/ENrYvc3bUt

— WhaleStats (tracking crypto whales) (@WhaleStats) November 15, 2022

ETH Whales Continue To Hold SHIB In High Regard?

According to data shared by crypto whale tracker WhaleStats on Twitter, SHIB was the top altcoin being held by the top 5,000 Ethereum whales.

Collectively and currently, these major investors are in possession of $75,289,824 worth of Shiba Inu tokens. MakerDAO (MKR) was second on the list, accounting a total value of almost $58.7 million.

Uniswap (UNI) also made the list, occupying the third slot as the ETH whales are hodling $50.25 million worth of the digital asset. Rounding up the top five are Locus Chain (LOCUS) ($43.59 million) and BitDAO (BIT) ($39.33 million).

Meanwhile, also included in the list of top altcoins being held by the top 5,000 Ethereum whales are Bitpanda Ecosystem (BEST) ($33.10 million), Chainlink (LINK) ($31.72 million) and Chiliz (CHZ) ($29.06 million).

If it’s any indication, this data proves that these seasoned investors known in crypto space as “whales” have not lost their faith in Shiba Inu, accumulating large quantity of it and holding onto it until the time comes when they can make considerable profit from it.

Shiba Inu Headed Towards Another Decline

Considering its current situation, SHIB may not be in a good position to reward these Ethereum whales anytime soon.

According to the asset’s 20-day Exponential Moving Average (EMA) that has settled below its 50-day EMA, it is most likely that Shiba Inu will once again experience price dump over the next few days.

Related Reading

Solana

Solana Loses 60% Of Its Value After FTX Collapse – Can SOL Bounce Back This Week?

2 years ago
Source: TradingView

This sentiment is re-echoed by the forecasts of Coincodex which suggest that within the next five days, the altcoin will trade at $0.00000902 while a month from now, a sharper price decline will be experienced by the asset which will pull it all the way down to $0.00000639.

A consolation, at the very least, for the meme crypto, is that its 200-day EMA suggest that on a long-term, there will be relief as bears are not seen to be in control all year long.

Related Reading

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Avalanche Looks To Capitalize On GameFi Segment – Will This Give AVAX Some Boost?

2 years ago

SHIB total market cap at $4.96 billion on the daily chart | Featured image from Watcher Guru, Chart: TradingView.com
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Christian Encila
Christian Encila

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Read more

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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