Shiba inu coin soars 22% to another new record after crypto whale buys 277 billion tokens

Shiba inu coin soars 22% to another new record after crypto whale buys 277 billion tokens

Shiba inu coin, a meme-based cryptocurrency that is based off another meme-based cryptocurrency that makes fun of cryptocurrencies altogether, soared more than 20% on Tuesday to hit a record high of $0.00004853, according to The move higher in the cryptocurrency was sparked Monday evening after an anonymous crypto whale purchased 276.6 billion shiba inu tokens for about $11.5 million, according to which tracks activity for the 1,000 largest ether wallets. The purchase brought the crypto whale's total holdings in shiba inu coin to 316.5 billion, worth about $15 million and representing the largest position in the wallet. The surge in shiba inu represents a renewed wave of risk-on sentiment among cryptocurrency traders, especially after bitcoin surged to at about $67,000. Shiba inu's Tuesday surge catapulted its market value to $18.8 billion, making it the 11th largest cryptocurrency in the world. To crack the top 10, shiba inu coin will have to nearly double from current levels to take over USD Coin's market valuation of about $33 billion. Dogecoin, the inspiration behind shiba inu coin, would be the next target for shiba inu, which currently has a $35 billion valuation. Technical analyst Katie Stockton of thinks the renewed rally in altcoins