Bitcoin
BTC$22 830.69

-4.00%

Ethereum
ETH$1 567.24

-4.81%

Tether
USDT$1.000078

0%

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USD Coin
USDC$1.000097

0%

XRP
XRP$0.394679

-4.64%

Shiba Inu the largest ERC-20 holding among ETH whales


18 Nov 2021

#SHIBA INU

According to data from WhaleStats, the 1,000 largest ETH wallets hold $2.35 billion worth of SHIB combined, representing around 9% of the total market cap. New data suggests that Shiba Inu (SHIB) is the largest ERC-20 token holding amongst the top 1,000 Ethereum (ETH) whales. According to data compiled by WhaleStats looking at the Ethereum-based token holdings of the largest ETH wallets, SHIB represents 21.68% of the combined market share at $2.35 billion. The next highest asset in terms of holdings is Crypto.com’s native token CRO, representing 5.54% at $603.9 million.

According to data from Coingecko, SHIB is currently the eleventh highest-ranked crypto asset in terms of total market cap with $26.9 billion, suggesting that the ETH whales hold roughly 9% of all SHIB in circulation.

The fervent SHIB community has been on a mission to push crypto trading platforms such as Coinbase and Robinhood to list the asset. Its Change.org petition aimed at convincing them had received more than 530,000 signatures at the time of writing. Coinbase Pro listed SHIB back in late September. One popular brand that gave the idea of accepting SHIB for payments a decidedly cool reception is fast-food giant McDonald's who replied to a tweet from “ShibArmy1365” calling on the firm to accept “SHIB for payment, please”.

McDonald's wrote that “we appreciate hearing your interest and continuously evaluate the payments experience.”

Despite being the kind of non committal boilerplate brush-off corporate PR accounts tend to make, it didn’t stop the SHIB community from going into overdrive with the post receiving more than 500 retweets,1,400 likes and countless memes to boot.

While it is unclear how McDonald’s will proceed, SHIB adoption has ramped up across the board this month. Crypto payments firm Coingate revealed on Nov. 11 that it opened up SHIB support so that 500 of its merchants can accept SHIB payments. The Samsung-backed digital wallet providers ZenGo also added the beloved dog meme token to its platform on Nov. 17.

“Appropriate response to build the hype. Can’t wait for the future!” Shib Social responded, while “ISHIB” chimed in with “Let’s Call it a McShib!”

Shib stands strong

Amid the recent pullback across the crypto market that began around Nov. 11, SHIB has taken a minimal hit of 4.1% to sit at $0.00004854 at the time of writing. However, after reaching an all-time high of $0.00008616 on Oct. 28, SHIB is down 43.6%. While the price is on a downward trend, the asset’s popularity hasn’t waned, with the official SHIB Twitter account surpassing 2 million followers yesterday.


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