Shiba Inu (SHIB), the second largest meme coin by market capitalization, has risen slightly over the past 24 hours to reach $0.00001107. Meanwhile, Bitcoin and Ethereum were also up over 5%. According to data from whale tracker WhaleStats, the largest Shiba Inu whales are accumulating massive amounts of GALA and MANA, primarily Ethereum.
SHIB whales are bottoming out these altcoins
Popular meme token Shiba was flooded by retail investors in the past bull run, thus breaking the 1 million wallet threshold in a very short time. left behind. Currently, there are 1,175,969 additional wallets holding SHIB in their wallet. The data provided by WhaleStats shows what other altcoins these whales are accumulating besides SHIB. Ethereum (ETH), Tether (USDT), and USD Coin (USDC) are the top 3 coins stocked by SHIB whales with over $10 million in asset value.
Binance USD (BUSD), Cronos (CRO) and Polygon (MATIC) round out the top 6 coins listed with approximately $2.5 million . CRO is the native cryptocurrency of the Crypto.com exchange. The Ethereum scaling solution Polygon is considered one of the typical Ethereum coins.
Whales are accumulating these metaverse coins
Among the altcoins that stand out on the list, Ethereum-based metaverse projects Decentraland (MANA) and Gala Games (GALA). Both metaverse coins gained over 5% today. At the time of writing, MANA is 1.02, GALA is trading at $0.07903. Positioned at the seventh place on the list, BEST is the native cryptocurrency of the Bitpanda exchange. At the time of writing, it is trading at $0.5551, down 1%. BEST failed to participate in the last altcoin rally.
With around $1.4 million, Chainlink (LINK) is the latest altcoin hunted by SHIB whales. The Ethereum-based oracle platform recently signed an important agreement with Solana to provide data integration. LINK, the 24th largest cryptocurrency by market capitalization, is up more than 8% from last week and is trading at $7.80.
Whales’ Bitcoin accumulation peaks
At the time of writing, Bitcoin is trading at $31,292.70, up 5.06%. On-chain data provider Santiment, whose analysis we share asKriptokoin.com , states that Bitcoin’s total whale assets have reached a one-month high. Firm analysts say:
Bitcoin’s mega-whale addresses, which are partly composed of exchange addresses, have the highest supply of BTC in a year. We typically analyze 100 to 10k BTC addresses for alpha, but accumulation from this higher tier could still be a promising sign.
