While the price of SHIB has recently risen but the top ETH holders still own less than $100 million

According to a recent tweet from the WhaleAlert monitoring service, the combined SHIB balances of the top 5,000 and 100 whales on Ethereum have fallen below $100,000,000.

This week, it has had three major spikes, with the first being between October 25 and October 27, when it increased by 18.25 percent in two days, followed by a 16 percent increase on October 28. The second biggest meme currency rose by a modest 8 percent earlier today. However, between October 27 and October 28, there was an 11.58 percent decline.

Now, WhaleStats has announced that the USD equivalent of the SHIB owned by the top 5,000 and top 100 whales is $94,297,394. Even while extensively dumping SHIB, whales typically retain at least $122 million worth of SHIB.

David Gokhshtein, a crypto enthusiast, said that after recently discussing Shiba Inu in his tweets, he was advised by a few Doge supporters that if he held Dogecoin, he cannot discuss its competitor SHIB.

This year, Gokhshtein, chairman of Gokhshtein Media and former US congressional candidate, has often tweeted about both Dogecoin and Shiba Inu. He added that he still has DOGE and once regretted not investing more in SHIB.

He thinks that these two dog-themed currencies will attract a large number of new retail investors to the cryptocurrency market.

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