SHIB loses top 10 spot for whales: Is a total collapse imminent?

According to leading wallet tracker WhaleStats, the top 100 whales on the Ethereum blockchain no longer favor the SHIB meme coin, as they removed it from their top 10 list over the weekend.

The whales are getting rid of their SHIB, but there’s a catch.

WhaleStats reported that over the weekend, the second most popular meme currency in terms of market capitalization, Shiba Inu, disappeared from the list of top 10 assets held by these whales.

The chart below also shows that whales have turned to other altcoins, such as MANA and stETH. These two currencies are the most important and first on the top 10 list of assets held at the moment.

They are followed by ANT, ENJ, UTK, CVC, TKN, DAWN and SNT. Beyond this top 10 list, as at least the top 20, SHIB cannot be found either.

However, the richest list on the same platform shows that the largest Ethereum investors still hold SHIB. The biggest wallet on this list now holds a pretty impressive amount of the token – 18,113,302,000,496 worth $178,053,759. Other whales have $100 million in this coin or less, but they still hold it.

The first 10 portfolios on the list after the address we mentioned above each contain $98 to $100 million in SHIB. This is the equivalent of 10,000,000,000,008 meme coins.

The total number of SHIB holders, according to WhaleStats, now stands at 1,255,976.

SHIB jumped 6% today

Earlier in the day, the Shiba Inu token posted a 5.94% rise the stock jumped from $0.00000935 to $0.00000990 after SHIB printed a long green candle followed by a smaller one.

In total, this is a substantial increase in the price of the coin since November 22 (when it was trading at $0.00000821), as SHIB rose, adding about 20% to its price.

Over the past seven days, the asset has posted an 8.38% increase. Yet, SHIB’s current price on the charts is 88.91% below the historical peak reached by the meme currency in late October last year.