Shiba Inu (SHIB) Price News: Despite the recent market volatility in cryptocurrencies in last three weeks, top memecoins have fared comparatively better than most tokens. The FTX collapse dragged the cryptocurrency market into a negative sentiment in an already bear market environment. However, top memecoins Dogecoin (DOGE) and Shiba Inu (SHIB) fared better than most cryptocurrencies. In the last one week, DOGE price rose by around 14%.
Also Read: Web3 Infrastructure Platform Ankr Exploited In A Multi-Million Dollar Hack
SHIB Price To Explode By 2022 End?
Amid several factors that played against conducive crypto market environment in recent weeks, top whales continue to hold on to their Shiba Inu (SHIB) holdings. According to Whalestats data, the top 500 Ethereum (ETH) whales are holding as much as $76,578,704 SHIB. In fact, the SHIB holdings of top 100 whales on Ethereum chain have been largely unchanged in the last two weeks.
It may be recalled that Elon Musk’s takeover of Twitter led Shiba Inu (SHIB) to a new all time high at the far end of October 2022. However, those gains were short-lived due to the FTX situation. At one point after Musk’s acquisition, there was talk about DogeCoin versus Shiba Inu on which memecoin would first reach $1. There was widespread expectation that Elon Musk will soon look to integrate DogeCoin or Shiba Inu with Twitter for payments.
Also Read: LUNC News: Binance To Likely End Its Terra Classic ($LUNC) Burn, Here’s Why
SHIB Among Safest Crypto Assets
According to Santiment Insights, Shiba Inu is potentially among the safest investments in crypto market currently. Earlier in the week, it was found on chain that there was transfer of 1.8 trillion Shiba Inu tokens in multiple exchanges. Similarly, other big whale transfers in SHIB came after the dramatic collapse of FTX.
“Uniswap and Shiba are both at the lowest levels among the top 10 assets based on Market Cap Vs Realised Cap (MVRV) calculation. This suggests they would be at the lowest risk to buy, historically.”
Also Read: Solana Price Prediction : Is Solana Dead, or Is It Just Panic Selling?
- Ethereum Price Sets Stage For Bullish Rally Towards $1,350
- LUNC News: Binance To Likely End Its Terra Classic ($LUNC) Burn, Here’s Why
- DeFi Token Price This Week: DeFi Token Shows Mixed Reaction; Uniswap, Terra Classic Up
- Hooked Protocol (HOOK) Starts Trading On Binance, HOOK Price Up By Whooping 2000%
- Ankr Hack: Ankr Plans To Reissue aBNBc And Compensate Users
- Gold Rate Today in Dubai, USA, India, Singapore; Check 24k 22k Price per Gram
- Crypto Prices Today: Dogecoin, BNB, Solana, Ethereum Plummets Yet Again; Terra Classic Soars
- Why Terra Classic Price Up Today? Spikes by 17% After Binance Burns Over 6B LUNC
- Ankr Coin News: Why ANKR Price Crashed Suddenly
- FTX Japan Might Soon Allow Fund Withdrawals to Its Clients
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.
Source: https://coingape.com/shiba-inu-shib-price-prediction-news/