Shiba Inu ($SHIB), the popular meme currency, has risen by 10% in the last 24 hours after an Ether ($ETH) Whale contributed 4 trillion SHIB, or $136 million.
Tokens went green overnight as the crypto market slowly recovered from a brief bear market. Surprisingly, Dogecoin’s offspring, SHIB, outpaced the OG crypto, Bitcoin ($BTC), with just a 6% increase, and Ethereum with a 5.7 percent increase in the last 24 hours.
Shiba Inu is the “highest traded and largest hodling token among the top 1000 ETH wallets,” according to WhaleStats’ Twitter handle.
Looks like whales are really hungry for #SHIB 🐳🐳
🥳 An ETH whale added 4T $SHIB ($136M) in the past 24hrs 👉 https://t.co/DCjI0wd9vF
🏆 $SHIB is most traded and biggest hodling token among the top 1000 ETH wallets#ShibArmy RT if u always think $SHIB is the King 😉 pic.twitter.com/hOsa99etTl
— WhaleStats – the top 1000 Ethereum richlist (@WhaleStats) December 21, 2021
SHIB has already demonstrated its supremacy among top ETH wallet holdings. Shiba Inu recovered the top spot among the top 1000 Ethereum (ETH) wallets by dollar value last week. After falling to third place due to a series of price drops, it rose again, indicating a committed and continually expanding whale collection.
SHIB has retained its position since then, with a concentration of 7.71 percent and a market capitalization of over $1 billion at the time of reporting.
Shiba Inu’s Social Media Trends
The token’s social media supremacy is also highlighted in Shiba Inu’s remarkable market report. According to a recent WhaleRumour analysis, the hashtag ‘#SHIB’ was the most discussed in a 24-hour period last week. It went on to become “the most discussed hashtag during a 72-hour period,” continuing the trend.
Shiba Inu was trading at $0.000032 at the time of writing, with a market valuation of $17,72,06,50,228 and a 24-hour trading volume of $1,97,21,70,504, putting it at number 13 on CoinMarketCap’s website.
With its establishment in the commercial business and collaboration with notable industry players, SHIB is on its road to becoming a market leader. This year, SHIB teamed with industry behemoths like AMC, the world’s largest movie theatre chain, which now accepts Shiba Inu payments. Along with AMC, Newegg, the electronic retail behemoth, just announced on Twitter that it will now take SHIB payments for its items.