Regardless of the current volatility within the crypto-currency market over the previous three weeks, the highest memecoins have carried out comparatively higher than most tokens. FTX’s collapse has dragged the crypto-currency market into damaging sentiment in an already bearish market surroundings.
Nonetheless, main memecoins Dogecoin (DOGE) and Shiba Inu (SHIB) have fared higher than most crypto-currencies. Over the previous week, the worth of DOGE has risen by about 14%.
Will the worth of SHIB explode by the top of 2022?
Amidst a number of components which have labored in opposition to the favorable crypto-currency market surroundings in current weeks, one of the best whales proceed to carry on to their Shiba Inu (SHIB) holdings. According to data from Whalestats, the highest 500 Ethereum whales (ETH) maintain $76,578,704 in SHIB. The truth is, the SHIB holdings of the highest 100 whales on the Ethereum chain have remained largely unchanged over the previous two weeks.
? The highest 500 #ETH whales are hodling
$76,578,704 $SHIB
$50,282,855 #UnknownToken
$45,314,877 $UNI
$36,226,257 $BIT
$35,413,060 $BEST
$33,090,827 $LINK
$32,887,986 $LOCUS
$31,112,000 $MOCWhale leaderboard ?https://t.co/tgYTpOm5ws pic.twitter.com/9ATG4ys061
– WhaleStats (monitoring crypto whales) (@WhaleStats) November 30, 2022
It is going to be recalled that Elon Musk’s takeover of Twitter led Shiba Inu (SHIB) to a brand new all-time excessive in late October 2022. Nonetheless, these features have been short-lived because of the FTX state of affairs. At one level after Musk’s acquisition, there was speak of DogeCoin vs. Shiba Inu as to which memecoin would attain the primary $1. There was a widespread expectation that Elon Musk would quickly look to combine DogeCoin or Shiba Inu with Twitter for funds.
SHIB among the many most safe crypto-assets
In response to Santiment Insights, Shiba Inu is doubtlessly among the many most secure investments within the crypto market at this time. Earlier this week, it was famous on the blockchain that there was a switch of 1.8 trillion Shiba Inu tokens in a number of exchanges. Equally, different giant whale transfers in SHIB occurred after the dramatic collapse of FTX.
“Uniswap and Shiba are each on the lowest ranges among the many high 10 property on a Market Cap Vs Realised Cap (MVRV) foundation. This implies that they’d current the bottom purchase threat, traditionally.”
