- Large wallet investors on the Binance Smart Chain continue scooping up Shiba-Inu-themed meme coins.
- Dogecoin is the fourth-largest holding of whales on the Binance Smart Chain, while Shiba Inu is the ninth.
- Analysts predict a rally in Shiba Inu price as bulls exhibit strength and target $0.000050.
Whales on the Binance Smart Chain consistently scooped in Dogecoin and Shiba Inu through recent bloodbaths. The accumulation has pushed the Shiba-Inu-themed meme coins’ price higher.
Shiba-Inu-themed cryptocurrencies accumulated by whales
Crypto data intelligence platform WhaleStats revealed that the top 1000 large wallets on the Binance Smart Chain network had accumulated Dogecoin and Shiba Inu. Whales’ portfolio includes Bitcoin, Ethereum and Shiba-Inu-themed meme coins.
The largest holding of the Binance Smart Chain (BSC) whales is Bitcoin, followed by Ethereum, Matic and Dogecoin. The 1000 largest whales on BSC hold $46 million in Dogecoin. Large wallet investors hold $26 million in Dogecoin-killer Shiba Inu.
Leading cryptocurrency analyst Guy of the YouTube channel Coin Bureau revealed in his latest video that he believes Shiba Inu price could break into a rally, eyeing a 50% climb with the meme coin’s foray into the metaverse.
Guy said,
Shiba Inu appears to be creating a metaverse world of its own […] SHIB still seems to be stuck in hibernation, but if that cup and handle plays out on the daily, we could see a 50% pump in the near future.
WhaleStat’s latest update revealed a spike in capital inflow in Shiba Inu. The meme coin’s inflow increased 850%.
Analysts at FXStreet have predicted a Shiba Inu price rally as large wallet investors exhibit strength. Analysts have set a target of $0.000050 for Shiba Inu price.
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. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Celebrity meme coins controversy continues amid Pump.fun revenue dominance
Pump.fun outperformed the Ethereum blockchain on Tuesday after raking in $1.99 million. Following this achievement, a meme coin based on actress Sydney Sweeney was the subject of controversy after its developers dumped their bags on investors.
PEPE's on-chain metrics indicate potential rally after weeks of silence
PEPE has struggled to see any significant price move after reaching an all-time high in May. Increased adoption rate and low MVRV ratio indicate a bullish run may be on the horizon. A single PEPE outflow from Binance worth $14.7 million gives credence to signs of bullish expectation.
Ethereum has failed to overcome key resistance despite bullish sentiment surrounding ETH ETF
Ethereum (ETH) is down more than 1.4% on Tuesday following another ETH sale from the Ethereum Foundation. Meanwhile, crypto exchange Gemini's recent report reveals that ETH ETF could see about $5 billion in net inflows within six months of launch.
Crypto community blasts Polkadot following report of treasury spending
Polkadot reports $87 million of treasury spending during H1. Crypto community members expressed harsh feelings toward the DOT team's high spending. DOT is up more than 2% in the past 24 hours but risks correction following the report.
Bitcoin: BTC price correction could end in July, according to seasonal data
Bitcoin (BTC) price appears poised for a decline this week, influenced by slight outflows in US spot ETFs, selling activity among BTC miners, and a combined transfer of 4,690.28 BTC to centralized exchanges by the US and German governments.