Is Shiba Inu (SHIB) Price Set For A Huge Jump In Coming Weeks?

Shiba Inu (SHIB) Price News: Despite the recent market volatility in cryptocurrencies in last three weeks, top memecoins have fared comparatively better than most tokens. The FTX collapse dragged the cryptocurrency market into a negative sentiment in an already bear market environment. However, top memecoins Dogecoin (DOGE) and Shiba Inu (SHIB) fared  better than most cryptocurrencies. In the last one week, DOGE price rose by around 14%.

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SHIB Price To Explode By 2022 End?

Amid several factors that played against conducive crypto market environment in recent weeks, top whales continue to hold on to their Shiba Inu (SHIB) holdings. According to Whalestats data, the top 500 Ethereum (ETH) whales are holding as much as $76,578,704 SHIB. In fact, the SHIB holdings of top 100 whales on Ethereum chain have been largely unchanged in the last two weeks.

It may be recalled that Elon Musk’s takeover of Twitter led Shiba Inu (SHIB) to a new all time high at the far end of October 2022. However, those gains were short-lived due to the FTX situation. At one point after Musk’s acquisition, there was talk about DogeCoin versus Shiba Inu on which memecoin would first reach $1. There was widespread expectation that Elon Musk will soon look to integrate DogeCoin or Shiba Inu with Twitter for payments.

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