Meme-based cryptocurrency Shiba Inu (CRYPTO: SHIB) saw a 202% surge in large transactions over the last 24 hours.
What Happened: According to data from IntoTheBlock, there were 124 on-chain transfers with a minimum value of $100,000 on Monday.
SHIB lost 10% of its value over the last 24 hours amid a massive selloff in wider cryptocurrency markets. The token fell to an intraday low of $0.00002198.
Data shows that SHIB has one of the largest concentrations of whales and large holders. Around 80% of the token holders are said to own between 0.1% to 1% of SHIB’s circulating supply.
Over the weekend, SHIB reclaimed the top spot among the richest Ethereum (CRYPTO: ETH) whales' biggest holding by dollar value.
As of April 9, the top 1,000 richest ETH wallets collectively held as much as $1.45 billion worth of SHIB.
What Else: Dogecoin (CRYPTO: DOGE) saw a 42% increase in large transactions over the last day. The price of DOGE also fell significantly, trading at $0.135 at press time.
Unlike SHIB, the majority of DOGE holders are still in the green. Data shows that 57% of DOGE holders are still making money at current prices.
DOGE’s whale concentration is also relatively lower than that of SHIB. Around 66% of DOGE holders are large investors or whales.
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