Shiba Inu has outperformed LTC, while SHIB experiences a price increase and gains popularity among the largest whales.
This week, the prominent dog-themed token Shiba Inu has been on a roll. It has outpaced another popular cryptocurrency, Litecoin, in the previous seven days and 24 hours since its price has risen dramatically. It surged to hit two benchmarks for Ethereum’s greatest whales.
The market valuation of Shiba Inu has reached a remarkable $7 billion, surpassing Polkadot (DOT) and Litecoin by this criteria.
The current market capitalization of SHIB exceeds that of LTC by around $400,000,000. DOT’s total is $6,856,470,221 whereas Solana’s exceeds $8 billion.
SHIB has increased by 34.59% during the last week, and it has also increased by more than 15% over the previous 24 hours. Shiba Inu is now trading at $0.00001203, according to CoinMarketCap.
According to statistics made available by the on-chain wallet monitoring tool WhaleStats, SHIB has surpassed all other leading coins in two metrics.
It has become the largest cryptocurrency holding in terms of U.S. dollar equivalent for the largest whales on Ethereum and has flipped CRV to become the most actively traded cryptocurrency asset for these whales as well.
The current average amount of SHIB held by the top wallets is 504,630,634,875 SHIB, valued at $6,095,051. Regarding the whole of the whales’ portfolio, there are now 50,400,341,191,067 SHIB valued at $609,340,125.
As per the report earlier this week, the SHIB development team has stated that the beta launch of the Shibarium Layer 2 solution is imminent and has provided an overview of Shibarium’s core ideas.
Also Read: Polkadot Improves Capabilities For Cross-Chain Transactions Across Its Several Blockchains
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