Shiba Inu Now Held By Over 1.18 Million Ethereum Wallets

Shiba Inu SHIB/USD — the self-described “Dogecoin DOGE/USD killer” — is now held by over 1.18 million Ethereum ETH/USD wallets.

What Happened: The biggest 1,000 Ethereum wallets currently hold 54.4 trillion Shiba Inu coins worth $1.6 billion, as per a tweet by cryptocurrency data firm WhaleStats.

Shiba Inu is now the biggest token holding by dollar value and also ranks second among the top 10 holdings of the Ethereum whales. The average SHIB amount held by the Ethereum whales is $1.60 million, as per WhaleStats data.

Why It Matters: Cryptocurrency whales are continuing to acquire Shiba Inu tokens as burn mechanisms continue to decrease the coin’s supply.

It was reported last week that Shiba Inu flipped Curve DAO Token to emerge as the most traded token by the 1,000 biggest Ethereum wallets.

Shiba Inu said in a blog post last week that it is in the early phase of the development of Shiberse, a codename for the Shiba Inu Metaverse.

Price Action: Shiba Inu is up 3.4% during the past 24 hours, trading at $0.00003026 at press time.

Market News and Data brought to you by Benzinga APIs

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Shiba Inu Now Held By Over 1.18 Million Ethereum Wallets

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