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The cryptocurrency shiba inu has managed to capture the 18th position in terms of crypto market valuations. The token has gained 230% during the last seven days and year-to-date, SHIB has gained a whopping 24,177,682%.
SHIB’s Value Swells After Whale Buys $43 Million Worth of Tokens
The popular meme-based crypto-asset shiba inu (SHIB) has seen massive gains this year and has propelled itself into the top 20 market positions. At the time of writing, shiba inu has a market valuation of around $11.6 billion.
While seven-day stats show SHIB has jumped over 230%, monthly metrics show the crypto asset has gained close to 300%. On Friday, October 8, 2021, there’s $13.9 billion in 24-hour SHIB trading volume.
On September 30, 2021, a whale purchased over 6 trillion SHIB just before the price skyrocketed. Shiba inu made its way into the limelight when Ethereum co-founder Vitalik Buterin donated $1 billion worth of SHIB to India’s Crypto Covid Relief.
In recent times, Coinbase has listed shiba inu (SHIB) and the meme-based crypto asset has seen significant retail demand since the initial listing. The Shiba Inu team has also developed a decentralized exchange (dex) called Shibaswap.
Shibaswap has $364 million total value locked (TVL) and a few different crypto-assets tethered to the SHIB ecosystem like the tokens leash and bone. Leash is swapping for $1,871 per unit and bone swaps for $2.33 per token today.
🐳🐳 An SHIB whale just bought 6,178,758,122,373 $SHIB ($43,838,916 USD)
Transaction: https://t.co/X7mlV2fmKj#SHIB #ShibArmy #Shiba #SHIBARMY
— WhaleStats.eth – top 1K ETH wallets (@WhaleStats) September 30, 2021
Stats show the top SHIB exchanges on Friday include Binance, Huobipro, Okex, Coinbase, and Poloniex.
Tether (USDT) is the top pair today with SHIB and 78% of all SHIB trades are paired with USDT. This is followed by BUSD (11.29%), TRY (5.40%), EUR (3.02%), and WETH (0.67%).
What do you think about shiba inu’s massive gains this past week? Let us know what you think about this subject in the comments section below.
Image Credits: Shutterstock, Pixabay, Wiki Commons
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