Shiba Inu is Blowing Life into Ethereum Whales! Does this Signal ETH Collapse?

Ethereum whales are showing heavy involvement in other cryptocurrencies especially, Shiba Inu.

Ethereum whales have highly focused their investing attention on Ethereum (ETH), but for how long? Ethereum whales are showing heavy involvement in other cryptocurrencies, with their second-largest holding being none other than Shiba Inu. Investors have high hopes for Shiba Inu as it is expected to reach US$0.001 in the forthcoming years. This is a coin that has previously exploded by almost 46,000,000% and can do it again. The ‘burn portal’ is expected to trigger enhancing the Shiba token value. The Shiba Inu Doggy DAO, the metaverse (Shiberse), and many other products are also projected to grow the price of this coin.

Whalestats.com is a site that intently monitors the activities of the 1,000 largest ETH-holding wallets on the Ethereum network, which hold in total billions of dollars in ETH. While that asset is far and away from their most significant holding, more than half of their portfolio lay in other cryptocurrencies and stable coins. At a little more than US$2.3 billion, the amount of SHIB held by Ethereum whales constitutes a 12.97% share of the group’s portfolio. Their third favorite crypto at the moment is FTX Token, which lags well behind at US$857 million, representing 4.76%.

 

The Rise of Shiba Inu

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