Despite a recent market downturn that saw drops of up to 25%, Shiba Inu (SHIB) continues to reign supreme as the top holding in whale wallets. This resilience underscores the enduring popularity and potential long-term value that whales see in the meme-coin-turned-utility-token.

Shiba Inu Remains Whale Favorite

Recent on-chain data paints a compelling picture of whale activity surrounding Shiba Inu. According to data from WhaleStats, on the total number of whales held in the 1000 largest Ethereum wallets, Shiba Inu remains the favorite of the whales, with over $ 2 [insert current dollar value here] worth of SHIB held collectively. This significant holding demonstrates a strong conviction amongst these large investors, even amidst market volatility.

WhaleStats Confirms Shiba Inu's Resurgence

Data from WhaleStats has shown that Shiba Inu has returned as a whale favorite. The site which tracks the top 1,000 ethereum wallets by volume of ETH held showed that whales have been actively accumulating SHIB, suggesting they are betting on its future performance. This renewed interest is a positive indicator for the Shiba Inu community.

Concentrated Whale Control

The distribution of SHIB holdings reveals an interesting dynamic. On-chain data from Santiment reveals that Shiba Inu (SHIB) has the highest level of whale control among top altcoins. The top 10 largest wallets hold 61.3% of SHIB’s total supply. While this concentration presents both opportunities and potential risks, it highlights the significant influence these large holders have on the market.

What Does This Mean for Shiba Inu?

The continued dominance of Shiba Inu in whale wallets, even after a substantial market correction, suggests a strong belief in its long-term potential. While past performance is not indicative of future results, this data point provides valuable insight into the sentiment of large investors. Keep an eye on whale activity and market trends to stay informed about the future of Shiba Inu.