Shiba Inu ($SHIB) surges 10% amid 4 trillion accumulation from Ether (ETH) whales

By Sunil Sharma
December 21, 2021 Updated December 21, 2021
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Shiba Inu announced via its official Twitter page that the holders of the meme coin are now over a million

The trending meme token, Shiba Inu ($SHIB) saw the exceptional hike of 10 percent in past 24 hours, post an Ether ($ETH) Whale added 4 trillion SHIB, i.e., $136 million. As the crypto market showed slow recovery after a short bear run, tokens turned green overnight. However interestingly, Dogecoin’s prodigy, SHIB even outperformed the OG crypto, Bitcoin ($BTC) with just 6 percent spike, as well as Ethereum with 5.7 percent surge in past 24 hours. According to WhaleStats’ Twitter handle, Shiba Inu is the “most traded and biggest hodling token among the top 1000 ETH wallets”.

This is not the first time, SHIB has proven its dominance in top ETH wallet holdings. Last week, Shiba Inu reclaimed the first position by dollar value among the top 1000 Ethereum (ETH) wallets. After it had dropped to the third position in lieu of consecutive price crashes, it went back up, determining dedicated and consistently growing whale accumulation. Since then, SHIB has maintained its status, and was standing at a concentration of 7.71 percent with over $1 billion in USD value, at the time of reporting.

Source: WhaleStats.com

Shiba Inu Social Media Dominance

Shiba Inu’s extraordinary market report is also devoted to the token’s social media dominance. According to CoinGape’s recent reportage, ‘#SHIB’ became the most mentioned hashtag in a 24 hour period last week. It further continued to maintain the trend and became the highest mentioned hashtag over a 72 hour period”. 

Shiba Inu was trading at the price of $0.000032, with a market cap of $17,72,06,50,228, and 24-hour trading volume of $1,97,21,70,504, further standing strong at number 13 on CoinMarketCap’s website, at the time of writing.

SHIB is on its way to becoming a market leader, with its establishment in the commercial industry, working together with eminent industry players. This year SHIB partnered with giants like AMC, which is the largest movie theatre chain in the United States, that now facilitates Shiba Inu payments. Along with AMC, the electronic retail giant, Newegg, which recently took to Twitter to make the official announcement about accepting SHIB payments for its products.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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