Shiba Inu (SHIB) Becomes #1 Crypto Among Ethereum (ETH) Whales: Here’s Why

In spite of Shiba Inu’s (SHIB) boat getting heavily rocked by Ethereum (ETH) whales last week, the top canine coin Shiba Inu (SHIB) became a top hit among the 100 largest whales. This is evident by statistics provided by WhaleStats, claiming a total of $155,613,759, which is almost double the capitalization of $BIT and $LOCUS, which stand at $85,475,623 and $77,398,824, respectively.

SHIB Army Puts in the Hard Work

Despite counting its losses from last week’s crypto massacre, Shiba Inu (SHIB) still holds strongly onto the #12th position by market capitalization. At press time, the dog-themed meme coin trades at $0.00001299, which is 2% less than 24 hours ago. Grudgingly, the Japanese dog-themed memecoin has to come to terms with a 23.3% weekly deficit, with the ruthless bearish market still counting bodies, as all of the TOP 10 altcoins suffered red ink in the double digits.

However, Shiba Inu (SHIB) has been constantly trending on Twitter, with Shiba Inu (SHIB) social mentions skyrocketing to 89,660 daily, degrees unseen in at least three months. Moreover, the hashtag #shibainu generates around 200 queries in an hour, even in an unforgiving bear market.

“Shiba Eternity” Ignites the Hype

This comes just weeks after the Shiba Eternity card game hit the stores, instantly making it into the top 50 card games on iOS. Besides, the blockchain version of Shiba Eternity is still in development in partnership with PlaySide Studios.

As for the dog-themed coin loving Coinbase users, the sentiment for Shiba Inu (SHIB) is still strong at 92% of buys, as opposed to 8% sells. The question is, will this be enough to spark Shiba Inu (SHIB) for a second leg? The Shibburn burning portal reports that there’s been a 42% decrease in burnt SHIB tokens. However, this might change when the SB Visa Card drops, presenting a first-of-its-kind auto-burning option of Shiba Inu (SHIB) to millions in the SHIB Army.

On the Flipside

  • The Ethereum (ETH) whales seriously upset the apple cart for Shiba Inu (SHIB) & rival memecoin Dogecoin (DOGE) last week with a massive sell-off.
  • Shiba Inu (SHIB) had very contrasting weeks, gaining 30% just two weeks ago, then quickly dropping 23.3% in the last 7 days.

Why You Should Care

Shiba Inu (SHIB) has the third largest crypto community. With over 3.4 active followers on Twitter, the Shiba Inu Ecosystem ($SHIB, $BONE, $TREAT) has finally gained the trust of Ethereum (ETH) whales.

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

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Author

Tadas Klimasevskis is a reporter, focusing on the latest tendencies of the crypto galaxy. He spends his time digging deeper into specific areas like meme coins such as Shiba Inu (SHIB) & Dogecoin (DOGE), music NFTs, sports NFTs, digital art and Pop culture in Web 3.0. Tadas strongly believes in crypto as disruptive innovation and keeps an eye out for new crypto hubs being developed around the globe. His vast experience in social media lets him quickly spot what’s going on in the mercurial world of crypto and deliver stories with unique spins. He has been active in blockchain and cryptocurrencies since 2019.