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Shiba inu (shib) has been one of the most successful crypto-currencies in the past 24 hours. The price of the second-largest meme coin has reached $0.000015 after a daily increase of about 30%.
Recent price increases in shiba inus are mainly due to a significant increase in the rate of combustion. In the first month of 2023, approximately 1.12 billion chips were eliminated through the shib burn gate.
Experts speculate that the recent announcement by the Canadian crypto payment gateway will cause it to support the three main tokens of the shiba inu (shib) ecosystem, leash, and os) on its prepaid visa and mastercard cards also helps to increase shib.
Cardholders of FCF Pay will soon have the ability to preload their cards with up to $5000 worth of SHIB, LEASH, and BONE, in addition to other cryptocurrencies such as Bitcoin and major stablecoins.
Shiba Inu: Strong Investor Fanbase
According to WhaleStats, SHIB, which has amassed a large investor following since its creation in August 2020, is now the most traded cryptocurrency among the top 1,000 Ethereum whales. Cryptography also has the highest dollar value.
Furthermore, there are allegations that the release of shibarium layer 2 of shiba inu, an extension of the blockchain ethereum, could lead to the destruction of trillions of tokens. As these tokens are consumed, the quantity drops and the value rises.
?? JUST IN: $SHIB @Shibtoken flipped $WETH for MOST TRADED token among top 1000 #ETH whales
Peep the top 100 whales here: https://t.co/jFn1zIOq03
(and hodl $BBW to see data for the top 1000!)#SHIB #WETH #whalestats #babywhale #BBW pic.twitter.com/qieNpMIfPD
— WhaleStats (tracking crypto whales) (@WhaleStats) February 3, 2023
The Shibarium blockchain will use SHIB as its indigenous coin, which should lead to lower gas costs and a faster expansion of the Shiba Inu Web3 ecology.
During the preceding 24 hours, the volume of exchanges of the piece meme exploded by a remarkable 94%. Whalestats also stated that investors possess $631 million worth of shib coins.
Image: Watcher Guru
Shiba Inu, the largest meme coin competitor to Dogecoin, has been introduced to several major cryptocurrency platforms, including Coinbase, Kraken, and Robinhood. Before, it was only available on decentralized stock exchanges as uniswap.
SHIB Balloon Pocketbooks.
In one year, the amount of Shiba Inu held by wallet addresses has greatly increased. The amount of wallet addresses holding SHIB for more than a year has risen steadily over the past year, as indicated in the graph below.
Shiba inu addresses per maintained time. Image: FXStreet
Whale Alert, a blockchain-tracking tool, reports that an affluent entity transferred 1,999,998,709,228 SHIB worth $24,20 million from a major cryptocurrency exchange to an unnamed wallet in four distinct transactions.
The transactions took place in less than five minutes, indicating that only one person was the owner of the vast supply of shibs. For all four transactions, the whale paid a total of $6.51 etheum (eth) in transaction charges.
SHIB total market cap at $8.2 billion on the weekly chart | Chart: TradingView.comSHIB maintains a strong correlation with Bitcoin. Based on crypto intelligence tracker coingecko statistics, the connection between meme piece and bitcoin is currently 0.97.
The correlation between shib and btc can have a negative impact on the upward movement of the coin unless the bulls raise the currency of the memes.
Screenshot of Shutterstock.
