Mid-Sized Crypto Investors Show Enthusiasm for Shiba Inu (SHIB) as Crypto Sharks and Dolphins Accumulate $9 Million in 8 Weeks
New insights from Santiment, a leading market analytics platform, have revealed a surprising surge in Shiba Inu (SHIB) adoption among mid-sized crypto investors over the past two months. Notably, crypto sharks and dolphins have been actively accumulating approximately $9 million worth of the meme-based token, representing a significant boost for the Dogecoin (DOGE) competitor. Let’s delve deeper into the details of this remarkable trend and explore recent developments in the Shiba Inu ecosystem.
The Rapid Accumulation of SHIB by Crypto Sharks and Dolphins:
Santiment’s latest findings have highlighted a remarkable trend in the crypto market. Wallets holding between 10 million and 100 billion SHIB tokens, colloquially referred to as “crypto sharks and dolphins,” have been swiftly accumulating the Shiba Inu token. This impressive accumulation has amounted to approximately $9 million over an eight-week period. For a crypto asset ranked 14th, this is undoubtedly a noteworthy development that has caught the attention of many investors.
Shiba Inu Ecosystem Expands with the Introduction of Shibarium:
The Shiba Inu ecosystem has witnessed exciting new additions, with one of the most significant being the public release of the beta bridge linked to the highly anticipated layer-2 scaling solution, Shibarium. This recent launch allows users to seamlessly transfer tokens between Shibarium and the popular smart contract platform, Ethereum (ETH).
Lucie, the marketing specialist for Shiba Inu, emphasized the importance of the bridge as it offers users a secure and efficient means of transferring tokens between the two networks. The absence of third-party risks and the limited impact on market liquidity make the network bridge an attractive solution for investors seeking faster and more cost-effective transactions. Additionally, the bridge serves as a promising scaling solution for the Shiba Inu ecosystem.
Shibarium’s Potential Impact on SHIB and BONE Tokens:
Lucie further shed light on the potential effects of Shibarium on the price dynamics of SHIB and BONE tokens. With reduced gas fees in the picture, it is anticipated that the price of BONE, the gas fee token associated with ShibaSwap, will experience a positive uptrend. On the other hand, Shibarium’s deflationary mechanism is expected to reduce the supply of SHIB, potentially leading to an increase in its value. These factors have piqued the interest of investors and contributed to the recent excitement surrounding Shiba Inu.
Current Trading Prices:
As of the time of writing, SHIB is trading at $0.0000867, while BONE holds a value of $1.47. The ongoing developments in the Shiba Inu ecosystem, particularly the integration of Shibarium and the accumulation of SHIB by crypto sharks and dolphins, are expected to keep the market buzzing with anticipation and activity.
The recent surge in Shiba Inu adoption by mid-sized crypto investors, along with the substantial accumulation by crypto sharks and dolphins, has underscored the rising prominence of this meme-based token in the competitive crypto landscape. With the introduction of Shibarium and its potential impact on the price dynamics of SHIB and BONE tokens, the Shiba Inu ecosystem is undoubtedly worth keeping a close eye on. As market trends evolve, investors and enthusiasts alike are eager to witness how this captivating journey unfolds for Shiba Inu.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.