Shiba Inu is the Most Traded Crypto Among the Top 100 ETH Whales

Shiba inu, the popular meme coin, holds the biggest token position by dollar value

Shiba Inu (SHIB) is a meme-based cryptocurrency that has a massive fan base and relies on social media hype to keep the price inflated. The token has seen tremendous growth since its launch in February 2021, with its price increasing by more than 1,000%. No doubt that the meme coin is also popular among the ETH Whales.

WhaleStats shows that Shiba Inu is now the most traded crypto among the top 100 Eth whales. It also holds the biggest token position by dollar value.

Surprisingly, this number only accounts for around 10% of the altcoins owned by ETH whales, as most major investors now own more stablecoins. The top 1,000 ETH holders collectively have approximately US$1.06 billion in USDC and US$808 million in USDT.

Shiba Inu, often referred to as the "Dogecoin Killer," has gained immense popularity due to its impressive community-driven approach. It aims to create an ecosystem of decentralized exchanges, artist incubators, and more. Shiba Inu's appeal lies in its low price, allowing investors to acquire a significant number of tokens at an affordable cost.

The second-largest meme coin, Shiba Inu (SHIB), gained 4.6% in the past 24 hours. The bullish momentum shows a recovery after the recent bank collapses in the US.

Shiba Inu is trading at US$0.000008689 at the time of writing, according to Coinmarketcap data. The asset's market cap is roughly US$5.12 billion, with a fully diluted market cap of US$5.49 billion.

SHIB has never hit US$.01, much less US$1. The odds of it occurring are pretty low, but anyone who buys in now will earn generational wealth if they sell at the right time.