• Shiba Inu (SHIB) has seen a 20% rally this week, with prices reaching $0.00001291.
• Ethereum whales have been showing more interest in SHIB, with it becoming the most traded token among the top 100 Ethereum whales.
• Hashflow (HFT) was the most used smart contract among the top 100 Ethereum whales in the past 24 hours.
The crypto market has been on a rollercoaster ride this week, with Shiba Inu (SHIB) being one of the biggest winners. The meme coin has seen its price rally by 20% this week, reaching highs of $0.00001291. This has been a major win for SHIB investors as the coin has been able to continue its push from support at $0.000008.
The rally has been so impressive that Ethereum whales have taken notice. According to WhaleStats, a platform tracking crypto whales, Shiba Inu has toppled Curve DAO (CRV) from the top position as the most traded token among the top 100 Ethereum whales. This is a sign of just how much interest there is in the coin, and it could be the start of another massive rally for SHIB.
The market appears to still be in a state of flux though, with SHIB experiencing a minor retracement following its rally. SHIB currently trades at $0.00001140, and if investors continue to cash out for profit, then it may be forced to seek refuge at $0.00001050 ahead of another potentially massive rally to $0.000014 and $0.000018, respectively in the coming week.
Hashflow (HFT) has also been making waves in the crypto market. According to WhaleStats data, HFT was the most used smart contract among the top 100 Ethereum whales over 24 hours. It was joined by Numeraire (NMR), SHIB, Chiliz (CHZ), and Boba Network (BOBA).
The crypto market has been a wild ride this week, and while no one can predict the future, it appears that Shiba Inu is one of the coins to watch in the near future. With Ethereum whales zeroing in on SHIB and the coin continuing to build momentum for the next breakout, it could be the best coin to buy in crypto right now. Only time will tell, but investors would be wise to pay close attention to SHIB in the coming days and weeks.