The Meme Coins That Dominate The Top Ethereum Whale Holdings

2022-7-6 02:00

With the bear market coming into full bloom, Ethereum whales are stacking up their holdings. However, there has been some deviation from the norm as new coins seem to have caught the fancy of these large investors. With meme coins continuing to make whales, the top 100 Ethereum whales remain bullish on them. The result has been some of the largest holdings of these whales now coming in the form of meme coins.

Ethereum Whales Top 10

The top 10 holdings of the Ethereum whales are increasingly dominated by cryptocurrencies that would not be considered two years ago. The likes of Shiba Inu have been on the top of the list for the longest time and continue to maintain their position there. Given the success of SHIB in the market, it is no surprise that Ethereum whales are more bullish on meme coins, hence the increased support for dog-themed coins.

Related Reading | NFT Volume Down 93% Since January, Is This The Beginning Of The End?

So far, Shiba Inu remains the largest holding position by dollar value among these top whales, following behind ETH and USDC. The meme coin makes up 16.87% of the total holdings of the top 100 whales, coming in at a value of more than $546.9 million. 

The next in line is a new entrant. ShibDoge has been in the space for a while but through all of the meme coin craze has been one of the many that made up the noise. However, as the bear market has continued, ShibDoge has emerged as one of the unlikely winners of the winter.

ETH trending above $1,100 | Source: ETHUSD on TradingView.com

Ethereum whales have been increasing their holdings in the meme coin and at the time of this writing, ShibDoge makes up 11.62% of their holdings at a dollar value of $376,780,896. This makes it the fourth-largest holding behind Shiba Inu.

Meme Coins See Profitability Decline

The meme coins made a splash throughout 2021 and into 2022. They continue to curry favor from cryptocurrency investors and are still at the forefront of discussions. However, their profitability leaves a lot to be desired after the market crash that rocked the space back in June.

Related Reading | Head To Head: Bitcoin Miner Revenues Surpass Ethereum But There’s More

Currently, the profitability margin for coins like Shiba Inu is down tremendously. Data from IntoTheBlock shows that only 24% of all invested in SHIB are seeing profits. This means that the larger majority, 73%, are all holding bags of losses.

Dogecoin is also one of the meme coins that has seen profitability decline. Although the majority of holders are still in profit, it is only by a small margin given that 51% of all investors are in profit. As for ShibDoge, data from Coinmarketcap shows that the meme coin is down 94.59% from its all-time high back in May 2022. This shows that despite meme coins still being popular, investors are not seeing a large margin of profitability. 

Featured image from OKX, chart from TradingView.com

Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Dragon Coins (DRG) на Currencies.ru

$ 0.0041142 (-0.21%)
Объем 24H $57
Изменеия 24h: 1.39 %, 7d: -0.73 %
Cегодня L: $0.0041142 - H: $0.0041142
Капитализация $1.434m Rank 99999
Цена в час новости $ 0.0174218 (-76.38%)

holdings coins ethereum norm new deviation these

holdings coins → Результатов: 88


Фото:

CoinZoom Aiming to Be a One-stop Shop for Crypto Payments

United States-based cryptocurrency payments app, CoinZoom is aiming to be the go-to platform for both crypto trading professionals and newbies alike. With CoinZoom, users can earn interest on their digital asset holdings, spend their coins with the CoinZoom Visa debit card at over 53 million merchants worldwide and also send and receive cross-border payments withoutRead More

2021-11-16 16:30


Фото:

Bitcoin Price Strives For Stability As Whales Take Stockpiling To A Whole New Level

Bitcoin investors with the largest holdings in Bitcoin seem to have started making a comeback after they exited in the early signs of a crash in May, a report has shown. According to Glassnode, a blockchain data and intelligence provider that generates innovative on-chain metrics and tools for digital asset stakeholders, the number of coins held […]

2021-7-9 23:21


Фото:

SBI VC Trade adds XRP to its recently-launched crypto lending service

SBI VC Trade, the crypto arm of SBI Holdings, a leading Japanese conglomerate, has expanded its crypto lending service by adding XRP. The company unveiled this news on February 4 through an official announcement, noting that this service will offer XRP holders a chance to earn interest by depositing their coins on the VC Trade […] The post SBI VC Trade adds XRP to its recently-launched crypto lending service appeared first on Invezz.

2021-2-5 23:26


Фото:

Prominent Crypto Investor On Why He’s Dumping All His XRP Holdings: It’s ‘A Confirmed Scam’

A Ripple fanatic by the online alias Crypto Bitlord has allegedly sold all his XRP coins. For all intents and purposes, the crypto investor claims the cryptocurrency is a confirmed scam. XRP’s History Of Controversies  XRP is a cryptocurrency that was created to reduce friction in the cross-border settlements market. Ripple, the company behind XRP, […]

2020-9-18 21:17


Фото:

Ripple to Reduce its Sales of XRP as Prices Rise

Ripple, who notoriously own a large portion of XRP, have reduced their sales of the token significantly, the lowest sales in any previous quarter Ripple’s sale of its XRP holdings is an activity that has happened regularly since the company escrowed billions of coins in 2017 to make the XRP supply more tightly controlled and more info… The post Ripple to Reduce its Sales of XRP as Prices Rise appeared first on Coinjournal.

2020-5-2 18:42