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Eth Whales Move Holdings To Stable Coins But Still Strongly Holding SHIBA INU Token

Published

2 years ago

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(Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. Every investment and all trading involves risk, so you should always do your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.)

So with the crypto market crash, many whales have moved their assets to stable coins such as USDT and USDC but did you know that 10% of all holding for ETH whales is still the popular Shib Token.

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There have been many stories going around that the market crash will be the end of Shiba Inu but this could not be further from the truth. The news stories seem to always start out by showing that whales have moved much of their assets to Stable Coins. The problem with this is that it is only half true.

If you look at the chart below from WhaleStats.com you will see that 10% of all the top ETH whales holdings are still Shiba Inu. Out of all of the tokens available why are they choosing to hold on to this asset?

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There are a few reasons. The first is of course the price of Shiba Inu. As with other Crypt Currencies, Shiba Inu is down, and at a price of .00000797, they are able to scoop up and control more of the token. They would not be doing this if they thought the Token was not going anywhere. There is also much talk of Shibarium which many say will help to shape the future of Crypto. No one knows exactly when it will be released although speculative dates are anywhere from July of 2022 to January 2023.

When asked the all too familiar question “Wen Shibarium?” ShibQueenie gave the only logical answer “When it’s ready”

Another reason is that the Shib Army, the name that many holders dub themselves with, is not going anywhere. First off all the number of holders keeps increasing on DEX while CEX is still a positive Buy Vs Sell on almost every exchange. All of these signs point to a great rebound once the markets start to recover.

Remember that whales do not play checkers they play chess. They Hold on to assets they feel will grow in value and with Shiba Inu being the 4th most held asset by ALL whales you can visualize what is going on with their frame of thought. We are not going to give you financial advice but we are going to say that if you do have money to invest DYOR and figure out what the top players are investing in.

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