With the bear market in full swing, Ethereum whales are stockpiling their holdings.
Nonetheless, there was some deviation from the norm, as new money appears to have caught the fancy of those large buyers.
With meme cash continuing to generate whales, the top 100 Ethereum whales remain bullish on them.
The outcome has been a few of the largest holdings of those whales now coming within the type of meme cash.
Top 10 Ethereum Whales
The top ten holdings of Ethereum whales are increasingly dominated by cryptocurrencies that were unthinkable two years ago. Shiba Inu, for example, have remained at the top of the list for the longest time and will continue to do so.
Given the success of SHIB on the market, it’s no surprise that Ethereum whales are more bullish on meme money, as evidenced by the increased support for dog-themed money.
To date, Shiba Inu is the most important holding by dollar value among these high whales, trailing only ETH and USDC.
The meme coin accounts for 16.87 percent of the total holdings of the top 100 whales, with a value of more than $546.9 million.
The next person in line is a brand-new entrant. ShibDoge has been in the house for some time, but due to the meme coin craze, he was one of many who made the noise. Nonetheless, because the bear market has continued, ShibDoge has emerged as one of the winter’s many unlikely winners.
To read our blog on “According to an Elliptic report, Doge is becoming more popular for illicit purposes,” click here
