Shiba Inu is the largest crypto holding among Ethereum whales and could soon be the most profitable one
- According to Whale Stats data, the largest ERC-20 token holdings of Ethereum whales is Shiba Inu.
- AMC recently announced the acceptance of SHIB payments through BitPay.
- The Shiba Inu community is now focused on the Robinhood listing and asking fast-food chain McDonald's to accept SHIB payments.
- Analysts are bullish on SHIB, predicting a trend reversal in Shiba Inu price.
Shiba Inu has emerged as a favorite of Ethereum whales, according to data from Whale Stats. Analysts have predicted that SHIB is likely to start the second leg of the bull run in the ongoing cycle.
Top 1000 Ethereum whale wallets hold $2.3 billion worth of SHIB tokens
Based on data from Whale Stats, SHIB accounts for over 17.4% of the top 1000 Ethereum wallets ERC20 holdings. The meme coin currently ranks 11th with a market capitalization of $23.6 billion.
#ShibArmy Congrats! The King is coming back!
— WhaleStats - the top 1000 Ethereum richlist (@WhaleStats) November 17, 2021
#SHIB flipped #BEST, #OKB and #CRO to become biggest ERC-20 hodling (17.44%) among the top 1000 ETH wallets with total value of $2,371,207,191
Source: https://t.co/jGSeQ3uXfo pic.twitter.com/WVGOpmcYjf
The Shiba Inu community (SHIB army) has actively created petitions to list SHIB on Robinhood to get it accepted as a payment method at AMC Theatres and McDonald's. AMC Theatres have accepted SHIB Army's request and announced that SHIB could be used to make payments across its theatre chain outlets through BitPay.
Adam Aron, CEO of AMC Theatres, recently tweeted:
Attention #SHIBArmy: Our friends @Bitpay decided to support Shiba Inu specifically because I asked, so AMC can take Shiba Inu for online payments of movie tickets and concessions. @AMCTheatres to be the first @bitpay client to accept Shiba Inu. Timing 60-120 days. This is a WOW! pic.twitter.com/F54i22hHDv
— Adam Aron (@CEOAdam) November 15, 2021
The analytics firm Santiment recently referred to SHIB as a "blue chip" among Ethereum powered altcoins. Santiment listed SHIB, Yearn Finance (YFI), Uniswap (UNI), AAVE and Chainlink (LINK) as the five blue-chip ETH altcoins.
@venturefounder, a cryptocurrency analyst, believes that meme coins Shiba Inu and Dogecoin rallied ahead of a Bitcoin bull run. The analyst considers that the next time SHIB price rallies, it is a sign of the crypto market getting overheated.
#memecoin rallying = top indicator?
— venturefoundΞr (@venturefounder) November 18, 2021
Be more cautious next time you see $DOGE and $SHIB at their ATH again, it's a sign that the market is getting overheated and complacent.
Interesting how this time #memecoins actually rallied first, ahead of #BTC and #ETH. pic.twitter.com/BW5EkklPNi
Shiba Inu's utility has hit a peak, with over 500 merchants accepting SHIB as a form of payment. A mysterious new SHIB whale has purchased 170 billion Shiba Inu tokens worth $8.1 million during a dip.
The whale converted ETH to buy SHIB; proponents consider it a bullish sign for Shiba Inu price.
FXStreet analysts have evaluated SHIB price and identified a triple bottom pattern to catapult Shiba Inu to $0.000088.
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.
