On November 15 of this year, the SHIB coin was included on a list of those that are expected to be the most significant ones in the near future. It is often regarded as the most favored stock among whale investors and traders to have in their possession. Recent news releases from the company's market investigation revealed some information that is really encouraging.

The future of the cryptocurrency world will be determined by altcoins.

The most prominent and popular crypto-based assets for investors and crypto enthusiasts to store are now altcoins and meme coins. These two types of coins are known as "meme coins." Even if the cryptocurrency market as a whole is falling, meme coins have been steadily increasing despite the challenging market conditions.

Aside from the SHIB token, the MKR and UNI are currently holding the 2nd and 3rd places, respectively, with total assets of almost 59 million dollars and a little more than 50 million dollars each. The SHIB token is currently holding the 1st place.

MKR, UNI, LOCUS, BIT, BEST, LINK, and CHZ are all other assets that belong to the Whale. When the current market figures are seen through the lens of the top one hundred Ethereum whale investors, SHIB is positioned quite high in the rankings.

As of the time this article was written, the top 100 ETH whales held approximately eighty billion SHIB coins, which had a value of more than seven hundred thousand dollars. The proportion of the whale portfolio that belongs to it is 3.35 percent. According to the analysis, whales trading Ethereum appear to have a considerable amount of interest in meme currencies.

What lies ahead for the cryptocurrency market

It is said that whales have traded trillions upon trillions of SHIBs over the course of their existence. In addition, whales now engage in this behavior frequently. The collapse of the FTX empire had a significant and negative effect on the market for cryptocurrencies. The chief executive officer of the FTX stated that the failure of the exchange was a surprise.

The overall cryptocurrency market has been hurt by the domino effect of falling exchange rates, which has had a negative impact on the market. The market seems to be slowly recovering, despite the fact that major coins have seen gains of one to two digits. It is not known at this time whether the current wave of FTX decline has come to an end.