Shiba Inu ($SHIB), the trending meme token, increased by 10% in the last 24 hours after an Ether ($ETH) Whale added 4 trillion SHIB, or $136 million. Tokens turned green overnight as the crypto market slowly recovered from a brief bear run. Surprisingly, Dogecoin’s prodigy, SHIB, outperformed the OG crypto, Bitcoin ($BTC), with a 6% increase, and Ethereum with a 5.7 percent increase in the last 24 hours. Shiba Inu is the “most traded and largest hodling token among the top 1000 ETH wallets,” according to WhaleStats’ Twitter handle.
SHIB has previously demonstrated its dominance in top ETH wallet holdings. Shiba Inu reclaimed first place by dollar value among the top 1000 Ethereum (ETH) wallets last week. After falling to third place due to a series of price drops, it rose again, indicating a dedicated and consistently growing whale accumulation. SHIB has maintained its status since then, with a concentration of 7.71 percent and a USD value of over $1 billion at the time of reporting.
Dominance of the Shiba Inu on Social Media
Shiba Inu’s remarkable market report also focuses on the token’s domination on social media. According to a recent ULTCOIN365 analysis, the hashtag ‘#SHIB’ was the most mentioned in a 24-hour period last week. It then maintained the trend, becoming “the most referenced hashtag over a 72-hour span.”
Shiba Inu was trading at $0.000032, with a market size of $17,72,06,50,228 and a 24-hour trading volume of $1,97,21,70,504, and was ranked 13 on CoinMarketCap at the time of writing.
With its commercial industry establishment and collaboration with notable industry players, SHIB is on its road to becoming a market leader. This year, SHIB worked with industry titans such as AMC, the largest movie theater chain in the United States, which now accepts Shiba Inu payments. Along with AMC, the electronic retailing behemoth Newegg recently made an official announcement on Twitter about taking SHIB payments for their products.