Shiba Inu, the memecoin that mainly competes with Dogecoin, has once again managed to enter the top 10 most traded tokens of the top 100 Ethereum whales. This is evident from a message from WhaleStats, an analysis platform that focuses mainly on the behavior of whales.
$645 million
At current prices, the 100 whales in question own about $645 million worth of Shiba Inu. Those are no small sums for a coin that was actually developed as a joke. Together, the whales are worth 51 trillion Shiba Inu tokens. All told, Shiba Inu accounts for about 13.23 percent of the holdings of the 100 largest Ethereum whales.
It is striking that of all risk tokens, Shiba Inu is the largest holding company of the whales in question. They only have Tether (USDT) and USD Coin (USDC), but otherwise Shiba Inu is by far the most popular coin. It could be that the whales are preparing for Shibarium, the new second layer on the Shiba Inu network.
Adoption and popularity
The fact that the adoption and popularity of Shiba Inu continues steadily is also evident from the popularity of the smart contract. The Shiba Inu contract is ranked 7th in the top 10 most used smart contracts by the 5,000 largest Ethereum whales. At least among the big boys, Shiba Inu is doing more than well.
For now, we mainly have to wait for Shibarium, which will soon add smart contracts to Shiba Inu. That can really take the project to the next level. For the time being, however, nothing is known about a launch date and we have to be patient. Just like the whales that seem to choose Shiba Inu en masse at the moment.
At the time of writing, Shiba Inu is down 1.13 percent for the past 24 hours. For the last seven days, the project is 6 percent in the red. That brings the price to $0.00001243 and the market cap of Shiba Inu to $6.83 billion.