fbpx

Ethereum (ETH) Whales Are Stocking Up On Shiba Inu (SHIB) – Here’s Why

The top whales on Ethereum’s (ETH) blockchain are aggressively stocking up on popular meme coin Shiba Inu (SHIB). The 580% daily increase suggests ETH whales favor the memecoin its rival Dogecoin (DOGE).

From Less Than $1M to $5M in 24 Hours

The rapid spike could be a direct result of the recent developments in Shiba Inu’s (SHIB) ecosystem. Of particular interest was the announcement by Shiba Inu’s lead developers that The Third Floor (TTF) would joining the project. The team hopes that the expertise brought by the visual studio should be enough to get ‘SHIB: The Metaverse’ going.

Former Sony Tech Artist David Kern was also hired by Shiba Inu (SHIB) just two weeks ago to advise on the SHIB: The Metaverse, which will be the “culmination of SHIB ecosystem”, according to lead developer Shytoshi Kusama.

Another aspect of the project’s successes lies in the retail adoption of the popular meme coin. Over the last month, two of the most popular food delivery services in the United States, Uber Eats US and DoorDash, started accepting SHIB as payment.

For those looking forward to more exotic experiences, there is some great news from the French Riviera. Highly-regarded luxury yacht charterers Camper & Nicholsons and YachtZoo in Monaco decided to adopt Shiba Inu (SHIB) as a payment method.

Following the news, payment processor NOWPayments indicated a rising demand for SHIB acceptance among business. The company released a step-by-step guide in relation to this, making it easy for any entrepreneur to implement SHIB payments in a swift, automated process. Some employees have even indicated their preference to be paid in cryptocurrency, simply because it makes them the sole owners of their hard-earned money.

Shiba Inu (SHIB) Is Enjoying a Walk in the Greenery

While SHIB Army is waits with bated breath for the official SHIB clothing line and the mysterious Shiba Inu (SHIB) card game, the meme coin has finally clawed its way back into the green. At press time, Shiba Inu (SHIB) trades at $0.00001194, according to CoinGecko. That sums up to an increase of 4.5% for the day, and a 20.2% gain over the last 30 days. Most importantly, Shiba Inu (SHIB) is favored by long-term investors⁠—and for good reason, as the dog-themed coin is maintaining a comfortable 93.9% year-to-date profit.

Why You Should Care

The Shiba Inu (SHIB) community is among the fastest-growing in the crypto world, and the size of the community itself has been a key factor in the success of the project.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed to be financial legal or tax advice. Trading Forex, cryptocurrencies, and CFDs poses a considerable risk of loss

Rate This Article
In order to improve, we give you the opportunity to rate DailyCoin content
Author

Tadas Klimasevskis is a blockchain journalist and content creator, focusing on the latest tendencies of the crypto world and digging deeper into specific innovations like music NFTs, gaming NFTs and Metaverse. Vast experience in social media lets Tadas quickly spot what’s going on in the crypto industry and deliver a story with a unique spin.