Shiba Inu once again becomes the biggest stake on Ethereum whale-level addresses
The Shiba Inu whales aren’t ready to lose the battle with FTX tokens, as the two assets are constantly fighting for the biggest hold of the biggest wallets in the Ethereum chain.
U.Today has already covered the standoff between the two assets, in which FTX took first place after Shiba Inu lost around $ 150 million in capitalization among the biggest addresses in the Ethereum chain. As of January 4, Shiba Inu’s holdings of whale-level addresses were valued at around $ 1.4 billion. As of January 5, the holdings were valued at $ 1.7 billion.
The $ 300 million increase in the value of whale possessions could be linked to both the price increase of the Shiba Inu and the large purchase of tokens from the whales. As for the price increase, Shiba Inu is currently trading at a profit of 1.2%, which is far from the increase in value of $ 300 million.
Additional market metrics such as volume, number of active addresses and net flow do not appear to show any positivity, with market volume currently remaining at $ 3.7 million and showing a decline of 86%.
Shiba Inu’s market performance also shows no signs of a recovery or implication of a trend change, with the asset moving with record daily volatility over the past seven days. The price of SHIB currently remains at the same level as in December.
Shiba Inu is currently trading at $ 0.000032 after losing 14% of its value since reaching the local peak on December 28. The token is currently hitting the low of $ 0.000029.