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

WhaleStats shows that Shiba Inu SHIB/USD is now the most traded crypto among the top 1000 Ethereum ETH/USD whales. It also holds the biggest token position by dollar value. 

At the time of writing on Saturday, Shiba Inu had reached $0.00001429, up by 14.5% in the last 24 hours and up by 21% in the last seven days. 

Shiba Inu’s trading volume has also exploded by 94% over the past 24 hours. 

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

Former Congressional candidate and founder of Gokhshtein Media, David Gokhshtein, said that the 13th-largest cryptocurrency by market cap is moving fast. 

He also said that SHIB’s price rally usually pushes other meme cryptocurrencies higher. 

In the midst of Shiba Inu’s advance, crypto analyst Ali Martinez tweeted, saying SHIB could run up to $0.000017 before hitting resistance.

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

The top 2000 ETH whales accumulated more than $620 million worth of Shiba Inu.

Shiba Inu developers are set to launch a beta release of a proposed layer-2 network called Shibarium.

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

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

Photo: Shutterstock