Oversized McShib: SHIB is the most ERC-20 token held by ETH whales

New data shows that Shiba Inu (SHIB) is the most-held ERC-20 token among the top 1,000 Ethereum whales.

According to data collected by WhaleStats, the holdings of Ethereum-based tokens in the 1,000 largest ETH wallets are $2.35 billion, with SHIB accounting for 21.68% of the total market share. The second-highest holding asset is Crypto.com’s native token, CRO, with 5.54% or $603.9 million.

Congratulations Shiba Inu Coin Army! The king is coming back!

SHIB replaces BEST, OKB and CRO as the most held ERC-20 tokens (17.44%) in the top 1000 ETH wallets with a total value of $2,371,207,191

— WhaleStats - the top 1000 Ethereum richlist (@WhaleStats) November 17, 2021

According to Coingecko, SHIB is currently the 11th largest crypto asset by market capitalization with a market capitalization of $26.9 billion, meaning these ETH whales hold about 9% of SHIB’s circulating supply.

The fervent SHIB community has been pushing crypto exchanges such as Coinbase and Robinhood to list the asset. At the time of writing, a petition created by the community on Change.org has received more than 530,000 signatures. Coinbase Pro listed SHIB back in late September.

Fast food giant McDonald's has been very calm about the idea of accepting SHIB payments, responding to a tweet from "ShibArmy1365" which called on the company to "please accept SHIB payments".

"We appreciate your interest and are continually evaluating the payment experience," McDonald's wrote.

While this was a typical practice of uncommitting rejection of corporate PR accounts, it didn't stop the enthusiasm of the SHIB community, and the tweet garnered more than 500 retweets, 1,400 likes, and countless memes.

ShibMac expression package

"Appropriate response to build hype. Can't wait for the future!" Shib Social responded, while "ISHIB" chimed in with "Let's call it McShib!"

Smile more $SHIB happy you look good.

— Siamand Sheikhi (@Siamand_Sheikhi) November 17, 2021

While it's unclear what McDonald's will do next, adoption of SHIB has ramped up across the board this month. Crypto payments company Coingate revealed on Nov. 11 that it opened up SHIB support so that its 500 merchants can accept SHIB payments. Samsung-backed digital wallet provider ZenGo also added the beloved Dogecoin to its platform on Nov. 17.

SHIB x McDonald's emoticon pack

Strong SHIB

During the recent crypto market correction that started around November 11, SHIB took a slight 4.1% hit, and as of writing, its price is $0.00004854. However, after reaching an all-time high of $0.00008616 on Oct. 28, SHIB fell 43.6%.

Although the price is on a downward trend, the popularity of the asset has not diminished, and the followers of SHIB's official Twitter account exceeded 2 million yesterday.

New record: Shiba Inu has more than 2 million followers on Twitter.

— MILKSHAKE (@shibainuart) November 17, 2021

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