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.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.