Shiba Inu (SHIB) Becomes #1 Crypto Among Ethereum (ETH) Whales: Here’s Why

© Reuters Shiba Inu (SHIB) Becomes #1 Crypto Among Ethereum (ETH) Whales: Here’s Why

In spite of Shiba Inu’s (SHIB) boat getting heavily rocked by Ethereum (ETH) whales last week, the top canine coin Shiba Inu (SHIB) became a top hit among the 100 largest whales. This is evident by statistics provided by WhaleStats, claiming a total of $155,613,759, which is almost double the capitalization of $BIT and $LOCUS, which stand at $85,475,623 and $77,398,824, respectively.

The top 100 #ETH whales are hodling$155,613,759 $SHIB$85,475,623 $BIT$77,398,824 $LOCUS$64,612,224 $MKR$45,738,864 $BEST$44,322,056 $MOC$43,710,843 $LINK$41,188,732 $MANAWhale leaderboard https://t.co/N5qqsCAH8j pic.twitter.com/MSWDmmZywg

— WhaleStats (free data on crypto whales) (@WhaleStats) August 22, 2022

Despite counting its losses from last week’s crypto massacre, Shiba Inu (SHIB) still holds strongly onto the #12th position by market capitalization. At press time, the dog-themed meme coin trades at $0.00001299, which is 2% less than 24 hours ago. Grudgingly, the Japanese dog-themed memecoin has to come to terms with a 23.3% weekly deficit, with the ruthless bearish market still counting bodies, as all of the TOP 10 altcoins suffered red ink in the double digits.

However, Shiba Inu (SHIB) has been constantly trending on Twitter (NYSE:TWTR), with Shiba Inu (SHIB) social mentions skyrocketing to 89,660 daily, degrees unseen in at least three months. Moreover, the hashtag #shibainu generates around 200 queries in an hour, even in an unforgiving bear market.

INSIGHT$SHIB social mentions measured daily hit 89.66K, the highest point in the last 90 days!Go deeper with your #crypto market analysis. Receive social + market insights with a FREE account on https://t.co/Ye6YvohFaoMore #shibainu insights: https://t.co/87ZXstJdei pic.twitter.com/xInaYV9Rnw

— LunarCrush (@LunarCrush) August 21, 2022

This comes just weeks after the Shiba Eternity card game hit the stores, instantly making it into the top 50 card games on iOS. Besides, the blockchain version of Shiba Eternity is still in development in partnership with PlaySide Studios.

As for the dog-themed coin loving Coinbase (NASDAQ:COIN) users, the sentiment for Shiba Inu (SHIB) is still strong at 92% of buys, as opposed to 8% sells. The question is, will this be enough to spark Shiba Inu (SHIB) for a second leg? The Shibburn burning portal reports that there’s been a 42% decrease in burnt SHIB tokens. However, this might change when the SB Visa (NYSE:V) Card drops, presenting a first-of-its-kind auto-burning option of Shiba Inu (SHIB) to millions in the SHIB Army.

Wow, #SHIBAINU trending now with almost 80k tweets. Whales are buying $SHIB by the boatload and headlines are about the #SHIBARMY. Could we be close to takeoff? Who knows but something is happening. pic.twitter.com/QdPkvflGXw

— Shib Dream * Shiba Inu News * ShibArmy.co (@theshibdream) August 21, 2022

• The Ethereum (ETH) whales seriously upset the apple cart for Shiba Inu (SHIB) & rival memecoin Dogecoin (DOGE) last week with a massive sell-off.
• Shiba Inu (SHIB) had very contrasting weeks, gaining 30% just two weeks ago, then quickly dropping 23.3% in the last 7 days.

Why You Should Care

Shiba Inu (SHIB) has the third largest crypto community. With over 3.4 active followers on Twitter, the Shiba Inu Ecosystem ($SHIB, $BONE, $TREAT) has finally gained the trust of Ethereum (ETH) whales.

Learn more about Shiba Eternity on iOS

Read about the dog race to the moon

Find out about SHIB Army’s voting efforts to list $BONE

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