Shiba Inu is doing excellent as the market recovers.
Shiba Inu has reclaimed a $7 billion market cap as the top 100 Ethereum whales show massive interest in the coin.
Shiba Inu (SHIB) has once again reclaimed a $7 billion market capitalization. The dog-themed cryptocurrency achieved the feat in less than 24 hours after falling below the mark.
According to data on Coingecko, Shiba Inu’s market capitalization is around $7.188 billion, which ranks the cryptocurrency the 13th-largest coin in the global rankings.
It is noteworthy that Shiba Inu’s market cap had rallied to $7.3 billion yesterday, following a spike in the value of the asset. However, the cryptocurrency fell below the mark a few hours later, following a retracement in the value of $SHIB.
SHIB Now Among Top 10 Cryptos Traded By 100-Largest Ethereum Address
In the past day, Shiba Inu’s market cap had dipped to a low of $6.6 billion. Interestingly, the market value of SHIB rallied above $7 billion following an increase in the asset’s trading volume among top Ethereum addresses in the last 24 hours.
Per data provided by Whale Stats, Shiba Inu ranked among the top 10 assets by trade volume in the past day among the 100-largest Ethereum addresses.
“JUST IN: $SHIB @Shibtoken now on top 10 by trading volume among the 100 biggest #ETH whales in the last 24hrs,” the crypto data provider tweeted.
JUST IN: $SHIB @Shibtoken now on top 10 by trading volume among 100 biggest #ETH whales in the last 24hrs ?
Check the top 100 whales here: https://t.co/N5qqsCAH8j
(and hodl $BBW to see data for the top 5000!)#SHIB #whalestats #babywhale #BBW pic.twitter.com/M21fimyNns
— WhaleStats (free data on crypto whales) (@WhaleStats) July 19, 2022
According to the rankings, Shiba Inu is the ninth-largest cryptocurrency traded by the top 100 Ethereum addresses in the past day.
The average amount of Shiba Inu traded among these addresses in the last 24 hours is 1,302,950,975 coins worth $14,797. Whale Stats is a cryptocurrency data provider that tracks the activities of the top 100 Ethereum wallets in the market.
As reported by TheCryptoBasic, an Ethereum whale purchased 519 million Shiba tokens in one single transaction.
Meanwhile, the milestone also positively impacted the price of Shiba Inu. At the time of writing this line, Shiba Inu was trading at $0.00001203, up 4% in the past day.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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