Shiba Inu ($SHIB) Is Favorite ERC-20 Token of Ethereum Whales

By November 19, 2021Ethereum
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Meme-inspired cryptocurrency Shiba Inu ($SHIB) has become the biggest ERC-20 token holding among the top 1,000 Ethereum ($ETH) wallets, with a total value of over $2.37 billion, after flipping the Bitpand Ecosystem Token ($BEST) and OKEx’s $OKB.

According to data shared by Whale Stats, the largest Ethereum-based token holdings of the largest Ethereum whales now see Shiba Inui represent over 17.4% of their holdings, with $BEST accounting for 3.71% with $505.6 million, and $OKB accounting for 3.46% with $495 million held. Next came Crypto.com’s $CRO, with $471 million.

Shiba Inu is currently the 11th largest cryptocurrency by market capitalization at $24.4 billion. It’s behind rival meme-inspired crypto Dogecoin ($DOGE), which at press time has a $30 billion market cap. The community behind SHIB, the so-called SHIBArmy, has been vocal about its support for the cryptocurrency, even creating a petition with over 535,000 signatures asking Robinhood to list it.

Recently, it engaged with fast-food giant McDonald’s on social media trying to get the company to accept SHIB payments. McDonald’s has responded to the SHIBArmy saying it appreciates hearing their interest and that they “continuously evaluate the payments experience.”

While the fast-food giant’s reply appears to be no more than a non-committal corporate move, the SHIBArmy has gotten the largest movie theater chain in the U.S., AMC, to add the meme-inspired cryptocurrency. The firm is set to accept SHIB payments in 60 to 120 days, according to its CEO Adam Aron.

According to Aron, cryptocurrency payment processor BitPay is adding Shiba Inu “specifically” because he asked them to so AMC could accept the meme-inspired cryptocurrency for online payments of movie tickets and concessions.

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