Crypto Insights Firm Says Shiba Inu Could Abruptly Follow Dogecoin Rally As SHIB Gains Steam Against Bitcoin

A major crypto analysis firm says the dog-themed coin Shiba Inu (SHIB) may be playing a game of chasing the leader alongside fellow meme token Dogecoin (DOGE).

Santiment says Shiba Inu is starting to gain momentum after showing strength on the Bitcoin pair (SHIB/BTC).

Whether you’re on either side of memecoins like DOGE or SHIB, there’s no denying they’ve had their moments of excitement. Please see.”

The Shiba Inu bull is a sign of life as the SHIB/BTC pair witnesses a massive increase in volume, suggesting traders are betting on the meme token over Bitcoin, according to Santiment charts. is shown.

At the time of writing, Shiba Inu is trading at $0.000013, up over 8% for the day. Bitcoin, meanwhile, is trading at $20,800, up just over 1% in the last 24 hours.

In addition to crypto traders, blockchain tracker WhaleStats shows that the largest 5,000 Ethereum whales have also accumulated SHB over the past few days. Top 5,000 ETH whales according to WhaleStats possession It surpassed the $94.2 million worth of SHIB, up 4.5% from the Shiba Inu treasure trove of $89.7 million. Recorded On Friday.

Looking at Bitcoin itself, Santiment says long-term bulls are hiding the largest cryptocurrency by market cap as BTC supply on crypto exchanges plummets to levels last seen in November 2018. I am making it clear that I will continue.

With Bitcoin returning above $20,700, traders seem happy with long-term holdings as the coin continues to drift away from exchanges. BTCs share of exchanges drops to 8.3%. It is the lowest level in four years.October was a month of massive outflows.

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