Shiba Inu, the second-largest meme coin, has joined the top 10 list of tokens with the highest trading volume, according to data from WhaleStats’ cryptocurrency tracking platform over the last 24 hours.
A significant Ethereum chain whale has since purchased 163.2 billion SHIB coins. According to the WhaleStats website, Shiba Inu is now ranked eighth out of the top 10 currencies by trading volume. Prior to it are the stablecoins USDT, USDC, and its usual competitor, the FTT token.
Along with APE, LINK, MRK, and UNI, Shiba Inu is ranked fifth out of the top ten most popular tokens sold.
Whale accumulates over 163.2 billion SHIB
The whale “BlueWhale0073,” which has been actively purchasing Shiba Inus over the past few months, has bought another sizable portion of it, according to WhaleStats. His purchase totaled 163,286,048,050 SHIB, which was worth $1,575,710.
This whale’s wallet page reveals that he continues to sell virtually all of the SHIB tokens he has bought. The investor now owns $51,566 worth of 5,055,490,196 Shibas. 1.99 percent of his portfolio is made up of this.
According to recent data from WhaleStats, Shiba Inu emerged to be one of the largest coins held by the top 500 ETH whales. The data reveals the numbers to be $595,407,110 SHIB. The holdings are followed by FTX, ShibDoge, BEST, MXC, MANA, CHSB, and cETH.
Shiba Inu is on fire
The SHIB burn initiative started off to reduce the circulating supply by sending them to dead wallets. This, in turn, is said to reduce supply, increase demand, and gradually raise prices.
The SHIB burn rate has been skyrocketing in the last 24 hours with over 1405.7%. The last 24 hours witnessed 104,087,830 SHIB burned. According to the data from Shib burn, to date 410,370,187,598,651 SHIB has been sent to dead wallets.