DeFI News by Thebittimes.Com

Shiba Inu (SHIB) whales have begun stocking up on SHIB tokens amid recent price struggles, hoping to spark a new rally for the token. The Shiba Inu (SHIB) ecosystem is a frequent headline-maker. The prominent meme coin network, despite being fairly new to the market, has managed to garner immense attention. When attention comes from whales though, it tends to spark investor interest in the token. Recently, SHIB has suffered from a downturn in price. The asset is down 17% in the last 30 days, with the SHIB community hoping that 2025’s start isn’t a bad omen for the year. SHIB whales, however, are apparently taking the time to buy in on the recent dip. According to Crypto.com data seen from a crypto-market expert on X, a whale moved over 1.6 trillion Shiba Inu coin (SHIB) tokens worth about $39 million from Crypto.com to private wallets. Such whale activity usually signals massive price action, and when the whales enter the market, they enter it to accumulate or buy to initiat...

Few crypto assets have the potential to become well-known brands. Shiba Inu was one such meme coin that managed to do the impossible. With 43 million more views than Bitcoin in 2021, Shiba Inu was the most well-liked cryptocurrency. Since 2021, this altcoin has arguably made the most noise, rising to the top of the cryptocurrency pack. Shiba Inu’s market cap at one point was at par with Dogecoin [DOGE]. But of late, the cryptocurrency has slipped even further behind DOGE. SHIB, which has a market cap of $5.9 billion, is ranked 13th among all digital currencies, according to tracking from Coingecko. At press time, it was trading at $0.00001034, having lost 4.94 percent of its value over the previous week. Given the current state of affairs, one may assume that investors would steer clear of cryptocurrencies. However, in an unexpected turn of events, Shiba Inu welcomed a sizable number of new holders this year despite the bear market.  This development completely cau...