February seems to be a record month for the popularly known meme coin Shiba Inu (SHIB). Popular altcoin Shiba Inu has regained its place as the largest investment in the wallets of the top 1,000 Ethereum whales. SHIB thus surpassed FTT, the native token of the cryptocurrency derivatives platform FTX.
We convey the details…
Shiba Inu takes the lead in the wallet of altcoin whales
Shiba Inu (SHIB) took the top spot among the top 1,000 Ethereum wallets with a total value of $1,822,731,714. According to the data, whales hold 16.85% SHIB. Previously, this position occupied the FTX token of the derivatives platform FTX. So SHIB outperformed FTT. After a 20 percent increase in price on Tuesday, SHIB remains the 13th largest cryptocurrency globally by market cap.
SHIB reached a market cap of $19 billion on Monday, surpassing Binance USD (BUSD), the US dollar-pegged stablecoin of cryptocurrency exchange Binance. Alongside this rise in prices, WhaleStats data reveals that Shiba Inu (SHIB) has been successful in passing FTX tokens, making it the largest ERC-20 investment (16.85 percent) among the top 1,000 ETH whale wallets, with a total value of $1,822,731,714. putting it.
Can SHIB surpass Dogecoin?
After all these records, the Shiba Inu is now trying to surpass another popular dog-themed meme coin, Dogecoin (DOGE), in terms of market cap. According to some, this seems possible, seeing the momentum of buyers. The trading volume for SHIB continues to rise with the rise in prices. The meme coin project DOGE, backed mainly by the CEO of Tesla Elon Musk, is currently ranked as the 12th largest crypto globally by CoinMarketCap (CMC).
Shiba Inu needs a $3 billion rise in market capitalization to surpass rival Dogecoin. At the time of writing, SHIB is changing hands at $0.000032, up 20%, and Dogecoin at $0.15, up 1.2%.
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