The global crypto market has started to decline more than 3.30% in the last 24 hours. The same applies to token memes such as Shiba Inu and Doge. However, 'Whale Ethereum' takes a different attitude when faced with falling prices where they take the opportunity to increase their holdings.
Based on Whalestats, an ETH whale named 'BlueWhale0113' bought more than 321.28 billion Shiba Inu (SHIB) in one transaction. The transaction cost around $3.72 million.
Based on shared observations, the whale wallet still holds $2.49 million worth of SHIB tokens at the moment. It makes up about 7.45% of its total holdings. Meanwhile, Polygon (MATIC) is the largest token held by whales. It constitutes around 11.49% of total holdings.
Shiba Inu prices have dropped more than 4% in the last 24 hours. SHIB is trading at an average price of $0.000012, at the time of writing. It is still the second largest meme token with a market cap of over $6.6 billion.
WhaleStats reports that the whales cluster of 500 ETH whales holds more than $652 million in Shiba Inu tokens. However, SHIB is the largest token held by the top 100 Ethereum whales. They own a Shiba Inu worth over $510 million. Reported 24-hour trading volume, the accumulated meme token reached the level of $1.2 billion. Shiba Inu recorded around $872 million of the total. Based on Coinmarketcap, SHIB recorded a jump of over 40% in its 24-hour trading volume.
However, the largest meme token Dogecoin (DOGE) recorded a 24-hour trading volume of $394 million between them all. Meanwhile, DOGE price has dropped more than 4.30% in the last 24 hours. Dogecoin is trading at an average price of $0.0686 at the time of writing.
Meanwhile the cumulative market volume of meme tokens has decreased by around 5% in the last 24 hours. It now stands at $16.18 billion. Meanwhile, the 24-hour trading volume increased by 60%.
