Since the Terra Luna crash and the Celsius bankruptcy case, the crypto market, including the meme tokens such as Shiba Inu, Dogecoin, and ShibaDoge, has been on a downward spiral. Despite its fall from great heights, Shiba Inu was still the top choice among the top 100 ETH whales. But the SHIB token saw its position lost to SHIBDOGE, another meme coin developed as a self-deflationary token.
WhaleStats Confirms Shiba Inu Overtaken by SHIBDOGE
WhaleStats released the news about SHIBDOGE overtaking SHIB on its Twitter handle on July 8, 2022. For the uninitiated, WhaleStats provides information about who are the bigger crypto whales and which coins they are holding at the moment. Not many saw ShibaDoge overtaking Shiba Inu; therefore, the news was a significant shock to the SHIB community. However, ShibaDoge could not maintain its position as the whale favorite for long and soon lost its crown to the evergreen Shiba Inu.
Shiba Inu Emerges as Whale favorite in the End
ShibaDoge’s progress was a blip in the overall scheme of things. Shiba Inu reclaimed its position and reached the status as numero uno whale favorite in the end. The top 100 ETH whales currently own a total of $568.82 million in tokens. Second on the list is SHIBDOGE, with total Whale-held tokens valued at $433.23 million.
Why ShibaDoge Emerging as Whale Favorite?
Despite paling in comparison with Shiba Inu in terms of market capitalization, ShibaDoge has good NFT exposure and remains in the limelight due to its frequent burns. Therefore, it has the capacity to surprise the market at times. ETH whales are always looking to invest in a better proposition
How to Buy ShibaDoge Guide?
ShibaDoge is not as well-known as Shiba Inu. It is an initiative to combine the communities behind popular cryptocurrencies such as Shiba Inu and Dogecoin. Below is a step-by-step process to buy ShibaDoge:
- Download and install a Metamask Wallet.
- Buy ETH as the base currency.
- Send Ethereum from Binance to your cryptocurrency wallet.
- Choose a DEX (Decentralized Exchange)
- Connect your wallet to the DEX
- Trade your Ethereum with SHIBDOGE
A few exchanges that are currently listing ShibaDoge are Uniswap (V2), XT.COM, and Hotbit.
Conclusion
Shiba Inu is a massive cryptocurrency with an ardent fan following. It always maintains a strong position among ETH whales, but the little-known ShibaDoge overtook it. Although ShibaDoge could not hold its position for long, it did cause great intrigue in the market. SHIBDOGE is an initiative to support meme coins, and you can buy it from trading platforms such as Uniswap (V2).