'Dogecoin Killer' Shiba Inu Up 5% On Whale Acquisitions, Rising Short-Term Hodlers, Community Expects 'Much Wows Incoming'
Portfolio Pulse from Khyathi Dalal
Shiba Inu (SHIB) sees a 5% price increase amid a 15.8% rise in meme coin market cap. Significant acquisitions by whales, including a $8.62 million purchase, and a shift from long-term to short-term holders are noted. Despite concerns over long-term holder reduction, the Shiba community remains optimistic, with SHIB's marketing lead and Crypto.com recognizing its potential.
March 21, 2024 | 2:07 pm
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Shiba Inu (SHIB) experiences a 5% price increase, driven by whale acquisitions and a notable shift from long-term to short-term holders, amidst a broader meme coin market rally.
The price increase is directly attributed to significant whale acquisitions and a shift in holder dynamics, indicating strong short-term market interest. However, the reduction in long-term holders poses questions about sustainability.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100