Shiba Inu Whale Accumulation Surges by 42%, Can it Help SHIB Price?

By Sunil Sharma
Published November 29, 2021 Updated November 29, 2021
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SHIB Price Analysis: New Year Rings Recovery Bell For Shiba Inu

Shiba Inu Whale Accumulation Surges by 42%, Can it Help SHIB Price?

By Sunil Sharma
Published November 29, 2021 Updated November 29, 2021

Despite the Black Friday drop, along with the COVID fear crash, cryptocurrencies are getting back on track including the trending meme-coin, Shiba Inu (SHIB). The meme crypto saw an exceptional rise in Whale accumulation, by more than 42 percent hike in the top 1,000 of the largest Ethereum wallets, with the total average SHIB balance maintaining over 2.5 billion Shiba Inu tokens, according to WhaleStats data. This further confirmed that the Whales are most definitely anticipating a bullish price momentum, especially for Dogecoin’s Rival, Shiba Inu in near future.

Furthermore, the average Shiba Inu value rose by nearly 40 percent, meanwhile its trading volume, that is determined by retail SHIB traders, fell by nearly 37%, which means traders are holding their Shiba Inu tokens, rather than selling.

Shiba Inu Metaverse Incoming

One of the biggest reasons behind the hike is said to be Shiba Inu’s Metaverse announcement. Last week, Shiba Inu team revealed that they have recruited William David Volk, who used to be the Vice President of Tech at Activision, one of the largest game developers in the US. Volk’s onboarding symbolizes Shiba Inu’s aim to lead Metaverse adoption, by the development of its Play-to-Earn (P2E) NFT games. This development will start from 2022 and will be built in-house by the SHIB team itself. Additionally, Shytoshi Kusama, the project head at Shiba Inu games ascertained that their Metavese approach will differ from what Facebook has opted for.

Shiba Inu Commercial Take Over

Shiba Inu may be a so-called ‘Shit-Coin’, however, it has been consistent with being part of substantial crypto landmarks. Past weekend, Shiba Inu celebrated its official payment collaboration with the online electronics retailer, Newegg. This commercial milestone was long-due given speculations about the addition of SHIB payments to Newegg hovering across all of social media. The company took to Twitter, and confirmed that they are now officially accepting SHIB payments, which has already commenced today onwards.

Nevertheless, Newegg is not SHIB’s only commercial achievement. Recently, the largest movie theatre chain in the United States, AMC also confirmed to accept Shiba Inu payments. According to the AMC CEO, Adam Aron’s tweet, Shiba Inu can be used for online crypto payments for movie tickets and concessions at AMC.

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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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