Shiba Inu Dominance Reaches 21% Among Whale-Tier Holders

Shiba Inu Dominance Reaches 21% Among Whale-Tier Holders

While Shiba Inu's market performance leaves much to be desired, background on-chain and market data suggest that large investors are still interested in purchasing some tokens for their portfolios, according to Whalestats.

The service tracks the holdings of the 1,000 largest Ethereum addresses holding Erc-20 tokens. Previously, U.Today reported that Shiba Inu regained its place among the most popular holdings in large wallets. Now, whales have decided to increase their position in the meme-based tokens.

Total holdings of all tokens have been redistributed, and Shiba Inu has gained additional dominance compared to previous periods. Now, 21% of the biggest wallets hold Shiba Inu, compared to 17% yesterday.

Shiba Inu remains in the top five most-purchased tokens in a 30-day period with $1.3 million of the average purchase amount and 23.5 billion of the average token quantity.

At press time, Shiba trades with a 6.4% daily loss, previously losing an additional 10% of its value on Nov. 16.