- Data indicates that SHIB is still a favorite investing tool for Ethereum whales.
- The top 5000 crypto whales hold an average of more than $616 million worth of SHIB.
- The global crypto market cap crossed the $1 trillion valuation over the weekend.
Meme token Shiba Inu (SHIB) remains a favorite coin among crypto ETH whales, according to data from WhaleStats, which tracks the activities of the most wealthy crypto investors.
WhaleStats data shows that the top 5,000 crypto whales cumulatively hold more than $616 million worth of SHIB.
Additionally, the top 100 whales hold an average of $6 million SHIB tokens. WhaleStats ranks the meme token as the second largest coin held on the Ethereum network by the crypto whales, and the only token above SHIB was the USDT stablecoin.
WhaleState keeps tabs on the other actions of notable investors, including their most popular trading currencies, most popular tokens held by them, most valuable token positions, and most popular smart contracts. The USDC stablecoin led in all these categories except for the biggest token position by dollar value, which went to Shiba Inu.
Notably, the price of SHIB has appreciated by over 16.42% in the previous seven days. Crypto traders bought and sold nearly $400 million Shiba Inu tokens in the last 24 hours, pushing its price to $0.00001213.
In related news, the global crypto market cap crossed the $1 trillion valuation over the weekend. The most popular coin, Bitcoin (BTC), now trades at $22,868.96 with a cumulative seven days growth of 9%. Similarly, Ethereum (ETH) is now worth $1,633.33, with a 6% increase in the past week.
The best-performing coin among the top ten under a seven-day window was the Ripple network token, XRP.
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 meme coin is still one of the crypto giants' preferred investment vehicles, according to data. Read more on Coin Edition.){kind=link}