- 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.
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
XRP eyes $0.6640 as Ripple CEO tips Trump to fire Gensler on first day in office
Ripple's XRP is up over 5% on Wednesday and could extend its rally to $0.6640 as the Securities & Exchange Commission may not file its appeal brief against the company due to Donald Trump's presidential election victory.
What's next for Bitcoin and Crypto industry following Trump's victory in US Presidential election
The 2024 US presidential election ended with pro-crypto advocates leading the House of Representatives, the Senate, and Donald Trump as the president-elect. The results stirred massive celebration across the crypto industry, with Bitcoin and the crypto market rallying following Trump's win.
Crypto Today: All Bitcoin holders in profit, TRON partners with Chainlink, DOGE miners in $145M buying spree
Bitcoin price reached a new all-time high of $75,120 on November 6 as markets reacted to Donald Trump’s victory in the 2024 US presidential election. The global cryptocurrency sector valuation grew by $190 billion within the daily time frame as bullish momentum spilled over into the altcoin market.
Coinbase’s Paul Grewal urges SEC to embrace change on crypto after Trump's victory
Paul Grewal, Coinbase's Chief Legal Officer, has asked the US Securities & Exchange Commission to reconsider how it regulates cryptocurrencies now that Donald Trump has been elected to a second term as president.
Bitcoin: New all-time high at $78,900 looks feasible
Bitcoin price declines over 2% this week, but the bounce from a key technical level on the weekly chart signals chances of hitting a new all-time high in the short term. US spot Bitcoin ETFs posted $596 million in inflows until Thursday despite the increased profit-taking activity.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.