Dogecoin bites the dust as Binance Smart Chain whales scoop up 140 billion Shiba Inu
- The top 1000 large wallet investors on the Binance Smart Chain have purchased 140 billion Shiba Inu tokens.
- After the latest purchase, Shiba Inu is the largest altcoin holding for whales on the Binance Smart Chain.
- Dogecoin price continues posting losses as Shiba Inu makes a comeback with a spike in demand from whales.
- Analysts are bullish on Shiba Inu’s recovery, noting the meme coin shows signs of strength.
The largest whales on the Binance Smart Chain network have accumulated Shiba Inu, contributing to the spike in the meme coin’s demand. Binance coin whales have acquired $4.23 million worth of Shiba Inu, in the latest addition to their portfolios.
Shiba Inu becomes most popular altcoin among Binance Smart chain whales
Crypto data intelligence platform Whale Stats revealed that the top 1000 large wallet investors on the Binance Smart Chain have accumulated 140 billion Shiba Inu tokens. Whales have added $4.23 million worth of Shiba Inu tokens to their portfolios.
The latest addition makes Shiba Inu one of the most popular altcoins in whales’ wallets on the Binance Smart Chain. While Dogecoin price struggles to recover, demand for Shiba Inu has increased consistently among large wallet investors.
Shiba Inu ranks first among altcoins purchased by whales on the Binance Smart Chain, while Ethereum ranks tenth. This implies that Shiba Inu is the most popular altcoin accumulated by BSC whales.
Whales have purchased Shiba Inu tokens through most dips, acquiring a whopping 3.45 trillion last week.
Shiba Inu hit another key milestone on February 13, 2022, crossing 2.7 million followers on Twitter. Proponents consider this a bullish catalyst for Shiba Inu price.
Analysts have evaluated the Shiba Inu price trend and predicted a recovery in the meme coin. FXStreet analysts have predicted some downside pressure around the $0.000028 level, setting conservative targets for the meme coin.
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
