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Top ETH Whales Now Hold Less Than $100 Million in SHIB, Despite Recent Price Surge

29 Oct, 20222 min readEthereum
Top ETH Whales Now Hold Less Than $100 Million in SHIB, Despite Recent Price Surge

According to a recent tweet published by WhaleAlert tracking service, the total SHIB balance of top 5,000 and top 100 whales on Ethereum have plunged below the $100,000,000 level.

This plunge took place after three major price surges this week.

Whales getting rid of SHIB

Large cryptocurrency holders, widely known as whales on the market, started moving their SHIB a couple of days ago, as the price of the canine token demonstrated a high volatility.

This week it has shown large spikes three times, first rising by 18.25 percent within two days – between 25 and 27 October, and then going up 16 percent on October 28. Earlier today, the second largest meme coin went up by a modest 8 percent.

However, between October 27 and 28, there was a plunge of 11.58 percent too.

Now, WhaleStats has reported that the amount of SHIB held by the top 5,000 and top 100 whales comprises a dollar equivalent of $94,297,394. As a rule, even when dumping SHIB massively, whale still kept an amount worth $122 million in SHIB or higher.

🐳 The top 5000 #ETH whales are hodling$94,297,394 $SHIB$75,353,360 $LOCUS$72,950,283 $MKR$70,701,315 $BIT$62,483,533 $UNI$43,175,905 $LINK$42,271,320 $MATIC$39,023,796 $MOCWhale leaderboard 👇 — WhaleStats (tracking crypto whales) (@WhaleStats) October 29, 2022

David Gokhshtein attacked for tweeting about SHIB

Crypto enthusiast David Gokhshtein has tweeted that after talking about Shiba Inu in his tweets recently, he was told by a few Doge fans that if he holds Dogecoin, he mustn’t talk about its rival SHIB.

I’m not allowed to have $SHIB if I want to talk about $DOGE.Stated to me from a few DOGE community members. 🥲— David Gokhshtein (@davidgokhshtein) October 28, 2022

Gokhshtein, founder of Gokhshtein Media and a former US congressional candidate, has often tweeted both about Dogecoin and Shiba Inu this year, being supporting for both. He stated that he still holds bags of DOGE and once regretted not going in on SHIB in a big way.

He believes that both these canine coins will bring a lot of new retail buyers to the cryptocurrency market.

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