Shiba Inu is currently going through a tough battle with the FTX token
- Race Against the FTX Token
- Whales are piling up again
After achieving a low percentage of dominance over whale addresses for the past three months, Shiba Inu is rising and becoming the second most popular asset in the whale-level wallets on the Ethereum network.
Race Against the FTX Token
While Shiba Inu’s dominance has fallen to 5% previously, it remains the most popular token, with second place having a long way to go to catch up with the memes-based token. But after the fund was redistributed, the dominance of the FTX token over whale addresses reached nearly 11%.
At the time of going to press, Shiba has fallen out of first place as the largest stake on whale-level addresses, with $ 1.4 billion in big wallets. The sale of around $ 250 million from SHIB also didn’t work in favor of the asset, which was the main reason the token lost out on top spot as the biggest holdings on addresses. whale level.
The FTX token, on the other hand, gained even more value, with Whales recently adding an additional $ 100 million in tokens, bringing the total value of investments to $ 1.5 billion.
Whales are piling up again
According to the whale-level address activity on the WhaleStats tracker, whales have started redistributing their funds among various tokens, with the percentage of funds concentrated in stablecoins dropping by about 9%.
As the market has experienced relatively low volatility, large crypto investors tend to increase their holdings for better prices. And as the asset allocation suggests, the whales have chosen FTX tokens and tokens like “BEST” and “GALA”. Shiba, on the other hand, lost some of its investment.