Shiba Inu: Biggest Dollar Holding Among Wealthiest Ethereum Whales

Christian Encila

1 year ago

3 mins read

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Shiba Inu (SHIB) currently has the largest dollar holding compared to the rest of 100 ETH whales.

In fact, CoinMarketCap has SHIB on their top 20 coins in the market cap category. Although SHIB seems to be gaining traction, this was quite the opposite a few days ago. Shiba Inu has suffered a major dip at only 216,260 transactions even though it has been listed by (HOOD) or Robinhood Markets Inc.

The total burn rate so far is at 31.71% or coming from the initial burned supply of 410,339,763,887,291 from SHIB’s total supply of 889.660.236, 112,708.

Suggested Reading | Bitcoin Carnage Continues As BTC Disintegrates To $34K

SHIB At No. 11

To everyone’s amazement, SHIB has also made it to CoinMarketCap’s coveted list at the 11th position. Basically SHIB is next to SOL which is currently in the 10th level and ahead of the APE on the 12th position.

Over the last 24 hours, Shiba Inu had a major price drop of 5.17% and a drop of 24.07% in the course of 30 days.

The current price of SHIB is now at $0.00001891 or roughly around 0.000000000545 BTC. More so, SHIB has a trading volume of $533,696,977 in a span of 24 hours. SHIB also has a current market cap of $10,385,504,641.

SHIB total market cap at $8.22 billion on the daily chart | Source: TradingView.com

Crypto Market Stronger Than Stock Market

The stock market is going strong but when you compare it to the crypto market, the gains of stocks would be minimal compared to the crypto space. Crypto has been going strong ever since the pandemic; going to as high as $1.6 trillion or a jump of 1,100%.

It’s not just the kings of crypto Bitcoin and Ethereum that are driving the crypto market value up but also Shiba Inu (SHIB) which have been attracting new investors into the crypto space. The meme coin SHIB were on fire especially in 2021.

Suggested Reading | APE Takes A Beating As It Sheds 50% Of Its Price

2021: SHIB’s Strongest Year

SHIB has an intra-year gain at a roaring 121,000%. The token can only be purchased for $0.000000000073 on January 1, 2021, and after 10 months, it climbed to a whopping $0.00008841. So, basically, if you invested $1 on January 1, 2021, you would have been a millionaire by October 27.

Shiba Inu is definitely an investable asset as we are witnessing it today. A yearly of 46,000,000% is just amazing, to begin with, and can lure in new investors.

Shiba Inu did not make it alone. Yes, the token had some help, especially from the market dynamics of crypto like derivatives and options or short-selling. More so, the token is popular on social media because Tesla CEO Elon Musk openly supports the token – and it has been a win-win setup for both.

Featured image from Pixabay, chart from TradingView.com

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.

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.

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.