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.
JUST IN: $SHIB @Shibtoken flipped $WETH for MOST TRADED token among top 1000 #ETH whales— WhaleStats (tracking crypto whales) (@WhaleStats) February 3, 2023
Peep the top 100 whales here: https://t.co/jFn1zIOq03
(and hodl $BBW to see data for the top 1000!)#SHIB #WETH #whalestats #babywhale #BBW pic.twitter.com/qieNpMIfPD
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.
When $SHIB moves, all of the other top meme tokens start moving.— David Gokhshtein (@davidgokhshtein) February 4, 2023
In the midst of Shiba Inu’s advance, crypto analyst Ali Martinez tweeted, saying SHIB could run up to $0.000017 before hitting resistance.
#ShibaInu will find stiff resistance at $0.000017, where nearly 93,000 addresses had previously purchased around 465 trillion $SHIB.— Ali (@ali_charts) February 4, 2023
Once #SHIB clears this supply barrier, it will be positioned to climb higher as @intotheblock's GIOM shows no other major resistance ahead. pic.twitter.com/heUXX50ifP
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
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