Crypto Whales Attack This Altcoin! Over 30 Cryptocurrencies Listed!

Cryptocurrency whales show intense interest in this altcoin. So what does it take to achieve the $1 goal?

The fullest pockets of the market are classified as whales, and the altcoins they buy are making serious rallies before long. While SHIB was still at its 5-zero price, it went on an ATH journey with the interest of many whales. Increasing whale interest is causing more small-capital investors to turn to these assets. So what is the altcoin that whales are showing great interest these days?

Shiba Inu (SHIB)

The biggest interest among meme tokens is Shiba Inu ( SHIB ), with SHIB, which floundered last year, rallied incomparably with a large number of whales showing interest in it. The meme token, which found buyers in April with a price of 8 zeros, then rose until it had 4 zeros left. This rise has multiplied the capital of many early-stage investors by 1000. With the growth in market value in the following period, it even surpassed Dogecoin, the oldest and largest meme coin. In other words, there is only one altcoin that was born as DogeKiller and could overthrow Dogecoin, albeit for a short time. Yes, SHIB has accomplished that.

SHIB finds buyers at $0.000013 at the time of writing. The popular meme token has climbed as high as $0.00001344 in the last 24 hours. Trading volume fell 18% as a Sunday classic, hitting $559 million. Its market cap is $7.1 billion, making it the 13th largest cryptocurrency.

Altcoins Bought by Whales

The enthusiasm around the Shiba Inu has recently turned to a rapid accumulation race. The number of SHIB holders reached 1.22 million made ATH. This historic peak comes after a late period of strong accumulation. Strong bullish signals are being sent for the Shiba Inu in the crypto industry and the whales are aware of it. According to WhaleStats, the top 500 Ethereum whales hold over $157.4 million in SHIB. In fact, the meme token now represents 5.3% of all assets. The same platform also confirmed yesterday that the largest Ethereum whales have added more than 600 billion SHIB tokens to their portfolio.

The resurgent interest among whales is expected to be a strong bullish indicator for the altcoin.

30+ Cryptocurrencies held by whales

Earlier this week, there was a glimmer of hope for investors as whale activity began to show signs of recovery. SHIB's whale transaction measurements recorded healthy whale activity over the past seven days. Of particular interest, however, are the events of the last two days. In the last two days, there was a higher concentration of whale transactions, exceeding $1 million, compared to other periods in the last seven days.

On the other hand, stable SHIB burning continues. A total of 272,140,724 tokens were burned in more than 101 transactions in the last 7 days. These small but stable burns contribute to the shrinkage of the total supply. Moreover, the SHIB team continues to expand its ecosystem and seek alternative ways for further combustion. Even with an estimated close of 14 billion tokens per year (last 7 days total*52), if SHIB can survive long enough, we could see the price drop a few more zeros. And yes, for now, SHIB can't be $1 in the long run. When monthly burning amounts are equal to daily burns, then we talk about the possibility of 1 dollar target to become reality in the long run.

Source: coin-turk.com