Top Dog Or A Meme Joke: Shiba Inu Slumps 5% As Whales Buy More
2022年1月8日 - 11:00AM
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Shiba Inu first appeared on the scene as a joke-coin in 2020, aimed
squarely at the top dog of the time Dogecoin. The meme coins
uccessfully marketed its way to the position while avoiding rumors
of a fraud and what appears to be a slow but steady start Shiba Inu
Slumps 5% At press time, SHIB was down 5%, along with DOGE and
other large cap crypto currencies, as the global cryptocurrency
market cap fell to $2 trillion. SHIB/USD price slumps 5%. Source:
TradingView At the time of publication, SHIB was one of the most
popular coins on Twitter. According to Cointrendz data, it received
2,320 tweets. At the time of publication, the three most popular
coins were Bitcoin, Ethereum, and Solana. There were 15,069, 6,159,
and 2,482 tweets about each of them, respectively. Shiba Inu, like
other meme coins, is entertaining to trade and has made some people
quite wealthy in a short period of time. However, whether it’s
Safemoon, Shiba Inu, or Dogecoin, there isn’t much value beneath
the surface. As a result, with these tokens, buyer beware. Has the
SHIB lost its sense of humour? Perhaps. There will always be
something more dazzling and opulent to come along. The meme coin
market is brimming with opportunities. Shiba Inu’s fan base is
unquestionably one of the largest in the crypto world. It’s an
issue of perception whether or not that’s changing. Related article
| Recapping 2021 Memecoin Mania: Dogecoin, Shiba Inu, & More
Whales Buy More SHIB The number of active addresses on whale
tracking website WhaleStats has increased by 88%, indicating that
Shiba Inus have attracted more whales. When entities begin to make
transactions or other manipulations with their funds, the increase
in activity is tracked. s Whale activities surge. Source:
Whalestats However, the increased activity may be followed by
greater selling activity, based on the token’s price behavior on
the market. The dog-inspired coin has lost almost 15% of its value
in the last four days, according to TradingView statistics. Shiba
Inu whales have also bought more. The coin’s dominance has
previously slipped, allowing FTT token to overtake SHIB as the
largest holding among Ethereum network whales. Source: Whalestats
However, Shiba Inu whale holdings received a $300 million boost
shortly after, putting it back in first place with $1.7 billion in
whale-tier address balances. Substantial market buying activity
failed to lift on-chain data. Measures such as net flows and
network growth remaining in the red. Related article | Paypal Loses
AMC Theaters Throne, Bitpay Will Support Shiba Inu Payments
Featured image from Unsplash. Chart from Whalestats,and TradingView
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