ShibDoge Grabs Whale Attention, Surpassing Shiba Inu and DOGE

Vignesh Karunanidhi
ShibDoge Grabs Whale Attention, Surpassing Shiba Inu and DOGE
Source: CoinDcx

Meme coins have been grabbing attention even amidst the crypto winter as investors seem to be turning their attention to these coins. Even though all meme coins are not worth attention, some of the top meme coins like DOGE and Shiba Inu have been gaining quite some popularity.

Shiba Inu and DOGE have been consistently staying at the top of the charts among the top 100 and 1,000 ETH whales. They rarely miss the spotlight on the top 10 list. ShibDoge has appeared to be a tough competition for the meme coins as it is ranked first among the top holdings among the 1,000 ETH whales.

According to data from WhaleStats, ShibDoge overtakes SHIB to rank first as the most held coin among the top 1,000 ETH whales. ShibDoge holdings account for $685,907,840, $63 million more than SHIB holdings.

Data shows that ShibDoge is also ranked first among the top 100 ETH whale holdings. In a comparison of the top 100 whales, whales hold over 50,070,918,002,388,184 ShibDoge worth over $7 million. It also accounts for 18.99% of the whale holdings, followed by Shiba Inu, which holds 14.98% of the holdings.

ShibDoge trades in green as the rest of the market bleeds

With inflation in the US rising to 9.1%, the highest that the country has ever witnessed in 40 years, the repercussions seem to be visible in the market.

The entire crypto market seems to be trading in the red, with bitcoin and ethereum losing over 3% in the last 24 hours.

Source: Clout News

Even amid the tough market conditions, ShibDoge seems to be gaining value. At the time of writing, ShibDoge is trading at $0.000000000139846, a 7.19% increase in the last 24 hours. Other meme coins, including SHIB and DOGE, are trading 3.8% and 4.93% down, respectively, in the last 24 hours. The exact reason for the price spike is currently unknown. What seems to be a conglomeration of Shiba Inu and Dogecoin has posed competition for both.