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Shiba Inu Defies Odds To Be Among Ethereum Whale’s Top 10 Most Traded Tokens Despite Price Slump

Shiba Inu (CRYPTO: SHIB) has been included among the top 10 most traded tokens among the 500 largest Ethereum (CRYPTO: ETH) whales.

What Happened: ETH whales possess more than $53 million worth of Shiba Inu, an amount amounting to 2.33% of their holdings.

According to Whalestats data, the USDC stablecoin (CRYPTO: USDC) has become the most dominant crypto asset held by top 100 ETH whales, accounting for 24.9% of their holdings.

See More: Best Crypto Day Trading Strategies

At the time of writing, SHIB was trading at $0.000008908, down 2.64% in the last 24 hours. Despite the price decline, Shiba burn rate has increased over 50%. Over 3,000,000 SHIB has been sent to the dead wallet in the past 24 hours, as per Shib burn tracker.

Despite SHIB's sluggish price performance, the fact that whales are still accumulating suggests that they remain confident in the token's potential for future growth.

Read Next: Bitcoin, Ethereum, Dogecoin Mixed After Fed Rate Hike: Analyst Says Apex Crypto's Path To $20,500 'Open'

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