Home - Altcoins - ShibDoge Flips Shiba Inu To Become The Biggest Whale Holding


July 8, 2022

ShibDoge Flips Shiba Inu To Become The Biggest Whale Holding

In the midst of the crypto market crash, crypto whales have sought sanctuary in meme currencies. In light of recent advancements by these meme currencies, whales have started acquiring Shiba Inu (SHIB), ShibDoge, and Dogecoin (DOGE). Second-place ShibDoge (SHIB) temporarily overtook SHIB (SHIB) as the most valuable coin held by whales today.

Following the introduction of the Shibarium upgrade at the end of June, whales have begun accumulating Shiba Inu. Shiba Inu’s principal developer Shytoshi Kusama’s releases of the SHI stablecoin and TREAT incentive token have been able to keep the accumulating trend going this month.

ShibDoge (SHIB) has eclipsed Shiba Inu (SHIB) as the largest dollar holding among the top 100 ETH whales, according to a new report from WhaleStats. After a few hours, SHIB regained the top spot among the most popular Ethereum (ETH) wallets.

Shiba Inu now has the most ETH worth $568.82 million out of the top ETH whales. ShibDoge is in second place with $433.23 million worth of tokens owned by the top 100 ETH whales, according to CoinMarketCap data. ShibDoge’s burn and NFT publicity may have piqued the curiosity of whales, despite being a minor meme currency.

When writing this, Shiba Inu’s (SHIB) prices had increased by approximately 5% over the previous day. Increased trading volumes have resulted in a surge in its value to $0.000010. The price of ShibDoge has risen 23% in the previous 24 hours because of whales’ purchases.

BSC whales have lately made large purchases of Dogecoin (DOGE), as well. Elon Musk’s reaffirmation of his support for Dogecoin sparked a 40 percent price surge in a week. The BNB whale “Martian Manhunter” bought 18,800,433 DOGE tokens on June 4.

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Whales have been clamoring for Polygon’s MATIC since the month of July began. Sandbox’s LAND deployment on Polygon, a partnership with phone manufacturer Nothing for Web3, and Reddit and Polygon’s introduction of an avatar marketplace built on NFT have all put Polygon in the spotlight. It is now trading at $0.55, up 6% in one day and 21% in one week, as of this writing.

In addition, FTX Token (FTT), AAVE, and Uniswap (UNI) are all in high demand at the moment.