LIVEShiba Inu ($SHIB ) Outshines $DOGE and $PEPE in Whale Activity
Shiba Inu (SHIB) has gained a significant edge over its meme coin rivals, Dogecoin (DOGE) and PEPE, in a key performance metric!!!!!
Shiba Inu Whales Unleashed ๐
According to data from crypto analytics platform IntoTheBlock (ITB), Shiba Inu has seen a remarkable 268.26% surge in whale transaction volume, indicating a substantial increase in large transactions or transfers worth more than $100,000. In the past 24 hours, these transactions amounted to $98.12 million.
By comparison, Dogecoin's whale transactions only grew by 13.29%, totaling $966.35 million. PEPE, another popular meme coin, saw an 11.16% increase, with whale transactions reaching $11.12 million.
Shiba Inu's Resilience Amid the Meme Coin Race ๐ช
Shiba Inu's lead over Dogecoin and PEPE is not solely due to whale activity. Despite the general price slump, Shiba Inu has experienced a relatively lower drop in daily active wallets compared to its competitors. Although Dogecoin is still the most capitalized of the three, Shiba Inu is steadily closing the gap.
Beyond Meme Coin Hype ๐
Shiba Inu is working to expand its ecosystem beyond meme coin status. The project recently announced plans to launch a layer-3 scaling solution on Shibarium, an upcoming major upgrade. This move could drive further growth and utility for the SHIB token.
Shiba Inu's ambitious plans include entering partnerships with key market players like D3 to create new products and increase demand for SHIB. The goal is to establish Shiba Inu as a top 10 cryptocurrency, driving its price from its current level of $0.00002208.
Conclusion ๐ฎ
Shiba Inu's recent surge in whale transaction volume indicates growing interest and activity among large investors. This momentum, combined with expansion plans and strategic partnerships, suggests that Shiba Inu could continue to outshine its rivals in the meme coin race. While the price has experienced fluctuations, the project's efforts to build utility and community engagement could drive SHIB to new heights.