Shiba Inu Soars As Meme Crypto Becomes Most Traded Among Ethereum Top 1000 Whales

[ad_1]

WhaleStats shows that Shiba InuSHIB/USD is now the most traded crypto among the top 1000 EthereumETH/USD whales. It also holds the largest token position by dollar value.

As of this writing on Saturday, Shiba Inu had reached $0.00001429, up 14.5% in the past 24 hours and 21% in the past seven days.

Shiba Inus trading volume has also skyrocketed by 94% in the past 24 hours.

WhaleStats also reported that investors hold $631.2 million worth of SHIB tokens.

Former congressional candidate and founder of Gokhshtein Media, David Gokhshtein, said the 13th largest cryptocurrency by market capitalization is changing rapidly.

He also said that rising SHIB prices generally push other cryptocurrencies higher.

Amid the Shiba Inus advance, crypto analyst Ali Martinez tweeted, saying that SHIB could hit $0.000017 before encountering resistance.

Last week, data showed that Shiba Inu holdings by Ethereum whales had increased by hundreds of millions of dollars.

The top 2000 ETH whales have racked up over $620 million worth of Shiba Inu.

Shiba Inu developers are about to release a beta version of a proposed Layer 2 network called Shibarium.

Meanwhile, according to IntoTheBlock, 45% of Shiba Inu owners are in green territory, while 47% are underwater. This compares to nearly 63% of Dogecoin DOGE/USD holders being profitable. DOGE is also up on Saturday, gaining 1.53% over 24 hours to $0.09375.

Read Now: Meme Community Not Amused By Elon Musk As Twitter Shuts Down Dogecoin Tip Jar

Photo: Shutterstock

[ad_2]