• Shiba Inu (SHIB) has declined 3% in the last 24 hours, making it the biggest loser of the Ethereum whales.
• The coin has lost 77% of its value this year.
• Data from WhaleStats shows Shiba Inu still holds the largest portion of the top 5000 ETH whales.
The cryptocurrency market has seen its fair share of volatility in the past few months, with even the top coins like Bitcoin and Ethereum having experienced deep negative returns. However, this has been especially true for the meme coin Shiba Inu (SHIB), which has seen a decline of 3% in the last 24 hours alone. This brings the coin’s losses to 77% for the year, making it the biggest loser among the top Ethereum whales.
Despite the significant decline in SHIB’s value, data from the Ethereum whale tracker WhaleStats shows that the coin still holds the largest portion of the top 5000 ETH whales. This is particularly interesting given that SHIB’s rival coin Dogecoin has observed a decline nearly double that of Shiba Inu’s, with losses of 28% over the past month.
At the time of writing, Shiba Inu is trading around $0.00000795, down 3% in the last 24 hours. This brings the coin’s weekly losses to around 3%. While this news isn’t particularly encouraging for SHIB holders, there may still be some hope for the coin in the upcoming year.
In the past, SHIB has seen large spikes in value, such as in May when the coin’s price rose from $0.000008 to $0.000013. The coin also had a brief surge in November when it reached a high of $0.000022. While it’s unclear whether or not the coin will experience a similar surge in the near future, its continued presence among the top Ethereum whales is certainly encouraging.
For now, SHIB holders will have to wait and see if the coin can make a comeback in 2021. Although the past year has been difficult for the meme coin, its continued presence among the top Ethereum whales is a good sign. With any luck, SHIB will be able to stage a comeback in the coming year and provide its investors with some much-needed relief.