Shiba Inu (SHIB) currently has the largest dollar holdings compared to the rest of the 100 ETH whales.
In fact, CoinMarketCap holds SHIB among the top 20 coins in the market cap category. Although SHIB seems to be gaining traction, this was just the opposite a few days ago. Shiba Inu suffered a huge drop in only 216,260 trades despite it being listed by (HOOD) or Robinhood Markets Inc.
Total burn rate so far is 31.71% or coming from primary burn supply of 410,339,763,887291 of SHIB’s total supply of 889,660,236, 112,708.
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Chip number 11
To everyone’s surprise, SHIB also made it to CoinMarketCap’s coveted list on 11y location. SHIB is mainly located next to SOL which is currently at 10y level and before APE on 12y location.
In the last 24 hours, Shiba Inu saw a huge price drop of 5.17% and a drop of 24.07% in 30 days.
The current price of SHIB is now $0.0001891, or approximately 0.000000000545 BTC. More than that, SHIB had a trading volume of $533,696,977 in a 24-hour period. SHIB’s current market capitalization is $10,385,504,641.
SHIB total market cap at $8.22 billion on the daily chart | Source: TradingView.com
The crypto market is stronger than the stock market
The stock market is going strong but when compared to the crypto market, the stock gains will be negligible compared to the crypto space. Cryptocurrency has remained strong since the pandemic; Reach $1.6 trillion or a jump of 110%.
Not only are the crypto kings Bitcoin and Ethereum driving the cryptocurrency market cap but also Shiba Inu (SHIB) which is attracting new investors into the crypto space. The SHIB meme coin caught fire especially in 2021.
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2021: The strongest year for SHIB
SHIB posted gains for the year of 121,000%. The token could only be purchased for $0.000000000073 on January 1, 2021, and 10 months later, it had risen to $0.00008,841. So, if you invest 1 dollar on January 1, 2021, you will be a millionaire by October 27.
Shiba Inu is definitely an investable asset as we see it today. An astounding 46,000,000% per annum, to begin with, and can attract new investors.
Shiba Inu didn’t make it alone. Yes, the token did get some help, particularly from market dynamics for cryptocurrencies such as derivatives, options, or shorting. What’s more, the token is popular on social media because Tesla CEO Elon Musk publicly supports the token – and it’s been a profitable setup for both.
Featured image from Pixabay, chart from TradingView.com