Ethereum (ETH<\/a>) whales are aggressively increasing their holdings of a Dogecoin (DOGE<\/a>) rival as the crypto market stages a modest recovery.<\/p>\n According to transactions tracker WhaleStats<\/a>, Ethereum whales have increased their holdings of Shiba Inu (SHIB<\/a>) by slightly over 580% from $736,000 to over $5 million in under 24 hours, in the process moving the Dogecoin competitor from being their seventh-largest holding to the second-largest holding.<\/p>\n Shiba Inu is now the top<\/a> holding of the largest 100 Ethereum wallets after Ether.<\/p>\n Besides stablecoins and Ethereum, other crypto assets featuring among the top-10 holdings of the leading 100 Ether whales include Ethereum\u2019s scaling solution Polygon (MATIC<\/a>), the native token of decentralized virtual world Decentraland (MANA<\/a>) and the utility token of the Cronos (CRO<\/a>) ecosystem.<\/p>\n Shiba Inu is trading at $0.00001139 at the time of writing, up by about 6% in 24 hours.<\/p>\n The surge in the Shiba Inu holdings of Ethereum whales comes at a time when 69% of the holders of the 15th-largest crypto asset by market cap are underwater<\/a> or holding the digital asset at a loss.<\/p>\n Only 27% of the Shiba Inu holders are in profit at the current price while 4% are at the break-even level.<\/p>\n About 26% of Shiba Inu holders have held the crypto for over one year while 70% have held the digital asset for between one to 12 months.<\/p>\n Four percent of Shiba Inu holders have held the crypto asset for less than one month.<\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get crypto email alerts delivered directly to your inbox <\/span><\/em>![\"\"](\"https:\/\/dailyhodl.com\/wp-content\/uploads\/2022\/07\/Top-100-Eth-whales-holdings.png\")
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