WhaleStats is an on-chain data platform that analyzes several major blockchains, including Ethereum, BSC, and Polygon. On Tuesday, the platform informed via a tweet that the SHIB token has fallen to the fourth position in the list of top 10 assets held by the largest whales on Ethereum. The reason for this has also been given. This happened when Whale decided to sell some of its SHIB holdings. According to the platform, Whale has sold around 1.5 trillion stakes of Mime Coin.
The top 500 #ETH whales are hodling
Whale leaderboard https://t.co/tgYTpOm5ws pic.twitter.com/s7ixNA2lqZ
— WhaleStats (free data on crypto whales) (@WhaleStats) August 23, 2022
If we look at the data available on WhaleStats website, the Shiba Inu’s holdings with the largest 100 ETH investors dropped overnight. According to U.Today, these whales held SHIB tokens worth $159,673,102 on Monday. At the time of writing the news, he had $157,505,864 worth of Shiba Inu tokens.
Apart from this, let us tell you that the developers of this popular meme coin are working on bringing new projects for the community associated with it. Its lead developer, Shytoshi Kusama, says that burning millions of SHIBs requires a huge community effort. Around 111 lakh crore SHIB can be burnt in the next few months. This does not include community burns.