First, let’s take a look at the price movement over the past 30 days. Shiba Inu has decreased by 40% in the last 30 days. Other meme coins like Doge decreased by 30% while a Layer-1 blockchain like Solana also decreased by 50%.
Top Shiba Inu Whales
Despite this massive fall, the first 5 whales together added more than 5% to their balance. However, the behavior was not consistent.
Two of the whales reduced their balance while 2 added to their balance. A third did not make any changes. See the table below
|Whales name||Number of tokens currently owned||Change in token balance in 1 month|
|0x72a53cdbbcc1b9efa39c834a540550e23463aacb||33 trillion||-1 trillion|
|0xcffad3200574698b78f32232aa9d63eabd290703||21 trillion||-0.5 trillion|
|0x2efb50e952580f4ff32d8d2122853432bbf2e204||12 trillion||+5.7 Trillion|
|0x422193843fe209faa94f5cc1780e04965e77cb7f||11 trillion||+0.6 trillion|
|0x1406899696adb2fa7a95ea68e80d4f9c82fcdedd||10 trillion||No change|
|Top 5 Whales||87 trillion||+4.8 Trillion|
Main points to note – The increase or decrease in Top Whale purchases has made no difference to the price over the past 30 days. Our analysis suggests that whales may play a critical role in launching or supporting a pump, but if external metrics are not in favor of a cryptocurrency, whale sales or purchases can only have limited impact.