According to a survey conducted by ConsenSys, 17% of American crypto investors revealed that they once invested in Shiba Inu or currently hold the token.    

Crypto investors have been showing significant interest in Shiba Inu (SHIB), the 10th biggest cryptocurrency by market capitalization. This was reflected in a recent survey conducted by ConsenSys, a private blockchain company launched by Ethereum co-founder Joseph Lubin. 

American Investors’ Appetite for Cryptos  

Notably, 1,018 respondents residing in the United States participated in the survey. Data suggests that 50% of the respondents claimed they had invested in crypto at some point, while the remaining 50% said they had never been involved with the emerging asset class. 

Specifically, 31% of the respondents said they purchased cryptocurrencies earlier but sold them eventually, 20% claim they still hold the assets, while 50% said they have never invested in cryptos. 

Shiba Inu Spotted in Americans’ Portfolios, Outperforms SOL and ADA 

It is interesting to note that American investors who had exposure to crypto assets listed Shiba Inu among the tokens they bought in the past or currently own. 

Per the data, Shiba Inu was the sixth asset in the list, with 17% of American crypto investors revealing that they invested in the canine-themed token.

Shiba Inu ranks ahead of other top crypto assets in the list. The tokens behind Shiba Inu include USDT, UST, SOL, ADA, DOT, ENS, DAI, and others.

However, the top five cryptos in the list are BTC, ETH, DOGE, BNB, and USDC. The weighted averages of investors who diverted their funds to these assets were 58%, 37%, 26%, 22%, and 18%, respectively.  

Aside from disclosing their crypto portfolios, the majority of the respondents acknowledged that the industry needs to be regulated. They primarily refer to crypto as an alternative to the traditional financial ecosystem, hence the need for appropriate regulation. 

Shiba Inu Team Member Sees SHIB Hitting $0.01 

Meanwhile, Shiba Inu has been trending for the right reasons in recent times. The token’s price recently spiked by over 250% in one week to around $0.000045. 

Although Shiba Inu has lost some of the gains it recorded last week, proponents are still confident that the token will resume its uptrend soon and possibly surpass investors’ expectations. 

As reported earlier, Shiba Inu marketing lead Lucie expressed conviction that the token could hit the coveted price of $0.01 in the long term. In the hours leading up to press time, SHIB was trading at $0.00003254, down 5.2% over the past day. 

The price of KNINE, a cryptocurrency launched by official Shiba Inu ecosystem partner K9 Finance DAO, recently reached a new all-time high.

On March 7, K9 Finance DAO, one of the partners of the Shiba Inu ecosystem, launched its native token, KNINE. For the uninitiated, the K9 Finance DAO is the official liquid staking partner for Shiba Inu’s layer-2 blockchain, Shibarium.

The KNINE token is purportedly designed to give holders a say on the DAO. Beyond voting on proposals, holders can earn fees and real yield from validators, all features that may have attracted the community to the project in these early days.

According to CoinMarketCap data, K9 Finance DAO (KNINE) soared to $0.0003543 on March 11, its current all-time high. The all-time high represented a more than 700% increase from the token’s lowest price of $0.000048, yielding substantial profits for early buyers.

However, the token has since seen a retracement to around $0.00022, its current price at the time of writing. Nonetheless, this decline is characteristic of newly launched tokens in the crypto sphere, with KNINE’s $16 million market cap making it susceptible to such volatility.

Meanwhile, the number of on-chain addresses holding KNINE has been on the rise. From its previously reported value of around 3,500, this metric has risen to over 5,600 in less than four days. 

K9 Finance DAO Aims to Unlock Shibarium Liquidity

Much of K9 Finance’s early success has evidently come from its promise to deliver a solution that has become pivotal to decentralized finance (DeFi) users on different blockchains. K9 Finance aims to bolster liquidity on Shibarium and complement the ecosystem’s TVL.

With a liquid staking solution, users can hold tokenized versions of staked assets, which they can simultaneously use across other protocols to increase yield further. Ethereum’s leading liquid staking solution, Lido, has attracted over $40 billion in capital, demonstrating the growing demand for these protocols.

Over 332,427,690,902 (332) billion Shiba Inu are on the move via Cumberland amid SHIB’s significant decline over the past week.

The price of Shiba Inu has been battling bearish forces for the past week, sinking below previously conquered territories.

In the last 24 hours alone, Shiba Inu has declined further by over 7%. This turnout has plunged its seven-day performance further, amounting to 17% negative growth.

Whale Move 332 billion SHIB.

Amid the bearish trajectory, Cumberland, a professional cryptocurrency trading firm, has continued to move significant amounts of Shiba Inu tokens to unknown wallets. In one of its latest moves, over 332 billion SHIB tokens left Cumberland for an unnamed destination.

In particular, Whale Alert has disclosed that 332,427,690,902 Shiba Inu were transferred from Cumberland to an unknown address. At the time of the disclosure, the moved tokens were valued at $10,858,584.

🚨 332,427,690,902 #SHIB (10,858,584 USD) transferred from #Cumberland to unknown wallethttps://t.co/n9ftIpy60r

— Whale Alert (@whale_alert) March 11, 2024

This transaction has sparked significant attention in the crypto community, with some wondering whether it is a positive move for Shiba Inu—also, the unknown destination of the SHIB tokens added to the mystery. An X user speculated that the trading firm sent the tokens to a private wallet.

However, blockchain data from Etherscan indicated that the recipient wallet of the over 332 billion Shiba Inu is associated with the well-known U.S. exchange Robinhood.

Meanwhile, the recent massive movement of Shiba Inu from Cumberland has not occurred for the first time. On March 4, Cumberland moved a more staggering 1,250,318,249,876 SHIB (1.25 trillion) to an unknown address. 

The staggering SHIB transfer occurred amid Shiba Inu cracking 2021 highs, with an explosive rally exceeding 350% within a week. However, the bears, spearheaded by Bitcoin, have taken over Shiba Inu’s bullish frenzy.

At press time, Cumberland’s wallet still holds more than 54.93 SHIB tokens valued at over 1.77 million. Besides, Cumberland’s wallet is not the only Shiba Inu whale that has significantly shuffled amid SHIB’s price performance. 

The Crypto Basic recently called attention to a Shiba Inu wallet that moved to liquidate approximately 300 billion SHIB via market maker Wintermute.