Investing.com UK - Financial Markets Worldwide
✂ Fed’s first rate cut since 2020: Use our free Stock Screener to find new opportunities fastExplore for FREE

Shiba Inu Emerges As Top Choice For Ethereum Whales, Despite Majority Of SHIB Investors Facing Losses

Published 28/07/2023, 12:57
Shiba Inu Emerges As Top Choice For Ethereum Whales, Despite Majority Of SHIB Investors Facing Losses

Benzinga - The top 100 largest Ethereum (CRYPTO: ETH) whales are known for their holdings and diverse investments. While stablecoins dominate their portfolios, Shiba Inu (CRYPTO: SHIB) stands out as the largest non-stablecoin token holding among these whales.

What Happened: According to data from whale tracking website WhaleStats, SHIB currently holds the third position in terms of token holdings for these top ETH whales.

Only stablecoins USD Coin (CRYPTO: USDC) and Tether (CRYPTO: USDT) surpass SHIB in terms of whale investments. Despite the notable recoveries seen by rivals like Dogecoin (CRYPTO: DOGE) and Pepe Coin (CRYPTO: PEPE), SHIB has remained stagnant.

See More: A Stay At The Floating Palace From James Bond's ‘Octopussy’

Why It Matters: The constant decline in price has resulted in a significant number of SHIB holders currently facing losses. Data from IntoTheBlock reveals that a mere 13% of SHIB holders are in profit, while a concerning 81% find themselves in a loss.

Price Action: At the time of writing, SHIB was trading at $0.000007801, down 0.21% in the last 24 hours, according to Benzinga Pro.

Read Next: Bitcoin, Ethereum, Dogecoin Follow Stocks Into The Red: Analyst Says King Crypto Could Touch $180K Before 2024 Halving

Join Benzinga’s Future of Crypto in NYC on Nov. 14, 2023, to stay updated on trends like AI, regulations, SEC actions & institutional adoption in the crypto space. Secure early bird discounted tickets now!

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.