Crypto Markets Down But Shiba Inu Token Reclaims Top Spot with ETH Whales

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Today there was a lot of red in the market as news of regulations from countries has been being released. An executive order to be signed into law next week by US President Joe Biden has the internet talking about the future of cryptocurrencies and what it will look like. This followed on the back of news that the Bank Of Spain has officially recognized Cryptocurrency by authorizing BIT2ME as the first legal exchange. If you remember it was just one week ago that India is going to legalize and regulate crypto but with a 30% tax. This tax is being contested by the citizens. All of this news that keeps coming out if causing Fear Uncertainty and Doubt (FUD) in the Crypto Space among retail investors.

This does not seem to be the case, however, for Eth whales. Their holdings are growing and at the forefront of all of the tokens, Shiba Inu has reclaimed the top position in their holdings. According to WhaleStats , Shiba Inu has now  Surpassed FTX Token and USDC with a total of $1,584,933,619.00 or 16.48% of Holdings overall.

This is a good sign for the Shib Army as once the Fud clears around the crypto market and more certainty becomes apparent Shib could be poised for gains in the market. Many things are in the works for Shiba Inu including the much anticipated Shibarium. Crypto now seems to be the investment choice of many households. American households now have more invested in Crypto than they do in savings. So the future of crypto looks like it is here to stay.