The unwarned collapse of the cryptocurrency market caused a lot of tension among the crypto whales which made them seek refuge in the meme coins.
In a shocking turn of events, despite recent developments by these meme coins, whales have been acquiring Shiba Inu (SHIB), ShibDoge, and Dogecoin (DOGE).
Shiba Inu (SHIB), the second-largest holding among whales, was flipped by ShibDoge today, briefly overtaking it in terms of dollar value.
Since the publication of the Shibarium upgrade at the end of June, Shiba Inu accumulation has increased among whales.
Leading Shiba Inu creator Shytoshi Kusama’s launches of the SHI stablecoin and TREAT incentive token have been able to keep the accumulating trend going this month.
However, according to today’s report from WhaleStats, ShibDoge has surpassed Shiba Inu (SHIB) to take the top spot among the top 100 ETH whales in terms of holdings measured in dollars. After a few hours, SHIB was able to retake the top spot in the largest Ethereum (ETH) whale wallets.
Shiba-Inu is Now a ‘Whale’ Favorite
Among the top ETH whales, Shiba Inu currently has the greatest ownership, with $568.82 million in tokens. ShibDoge is next, with the top 100 ETH whales holding tokens valued at $433.23 million in total. Despite being a little meme coin, whales may have been interested in ShibDoge because of its burn and NFT exposure.
In addition, BSC whales just made a significant buy of Dogecoin (DOGE). Elon Musk’s reiteration of his support for Dogecoin, which caused prices to surge by 40% in a week, sparked the rally. “Martian Manhunter,” a BNB whale, bought 18,800,433 DOGE tokens on June 4.
MATIC Too is Making its Way
Since the month of July began, whales have been interested in Polygon’s MATIC. Sandbox’s LAND deployment on Polygon, working with phone manufacturer Nothing for Web3, and the introduction by Reddit and Polygon of an NFT-based avatar marketplace have all put Polygon in the news.
The MATIC price is currently trading at $0.55, up 6% from the previous day and 21% from the previous week. The other popular tokens this month are Uniswap (UNI), AAVE, and FTX Token (FTT).