Shiba Inu Emerges As Top Choice For Ethereum Whales, Despite Majority Of SHIB Investors Facing Losses

The top 100 largest Ethereum (CRYPTO: ETH)  whales are known for their holdings and diverse investments. While stablecoins dominate their portfolios, Shiba Inu (CRYPTO: SHIB) stands out as the largest non-stablecoin token holding among these whales.

What Happened: According to data from whale tracking website WhaleStats, SHIB currently holds the third position in terms of token holdings for these top ETH whales.

See More: A Stay At The Floating Palace From James Bond's ‘Octopussy’

Why It Matters: The constant decline in price has resulted in a significant number of SHIB holders currently facing losses. Data from IntoTheBlock reveals that a mere 13% of SHIB holders are in profit, while a concerning 81% find themselves in a loss.

Price Action: At the time of writing, SHIB was trading at $0.000007801, down 0.21% in the last 24 hours, according to Benzinga Pro.

Read Next: Bitcoin, Ethereum, Dogecoin Follow Stocks Into The Red: Analyst Says King Crypto Could Touch $180K Before 2024 Halving

Join Benzinga’s Future of Crypto in NYC on Nov. 14, 2023, to stay updated on trends like AI, regulations, SEC actions & institutional adoption in the crypto space. Secure early bird discounted tickets now!

Market News and Data brought to you by Benzinga APIs

To add Benzinga News as your preferred source on Google, click here.