Shiba Inu's (CRYPTO: SHIB) rally cooled down after it reached a monthly high of $0.00001251. However, it seems that Ethereum (CRYPTO: ETH) whales are not ready to give up yet.

What Happened: At the time of writing, SHIB was down 7% in the last 24 hours, according to Benzinga Pro.

According to whalestats analysis, the top 100 ETH whales hold over $566 million worth SHIB, which makes up 15% of their total token holdings excluding ETH. This puts SHIB  third on the list of the top 10 most-held tokens. 

See More: Best Crypto Day Trading Strategies

SHIB on Tuesday flipped Numeraire (CRYPTO: NMR) for most traded token among top 100 whales.

The SHIB smart contract is the fourth most used by the whales, behind ETH, USDC (CRYPTO: USDC), and USDT (CRYPTO: USDT), with a 186% increase in usage among the top 100 ETH whales. 

Read Next: Bitcoin, Ethereum, Dogecoin Slide: Analyst Says Apex Crypto In For 'Very Interesting' Rally Or Short-Term Pullback