AD
AD
News

Ethereum whale buys $1.1 million worth of SHIB as token gets listed on Kraken

John KumiBy 0Edited by John Kiguru 30. November 20213 Mins Read
  • According to a transaction detail provided by Watcher.Guru, an Ethereum whale purchased $1.1 million worth of SHIB causing a considerable surge in its trading value. 
  • Kraken, the eighth largest crypto exchange in the world, has announced its support for SHIB tokens following a recent spike in demand.

Shiba Inu, just like many other meme coins was created out of joke but has attracted a wide number of speculators and fans. Its global adoption cannot be disputed as investors are loading SHIB into their portfolios. Today, its 24-hour trading volume has surged to $7.6 billion.  According to a transaction detail provided by Watcher.Guru, an Ethereum whale purchased $1.1 million worth of SHIB causing a considerable surge in its trading volume. 

Its recent performance has created a whole new trading synergy and according to some investors, this marks the beginning of the token.

Just recently, Bloomberg Intelligence Commodity Strategist Mike McGlone predicted that the SHIB token is bound to face a reversion worthy of its parabolic price. He also acknowledged the incredible adoption of the meme token despite its recent entry into the crypto market. 

SHIB is a unique blend of exploitation, good marketing, ESG, supply [versus]demand economics and gambling on an unprecedented 24/7 global scale and faces reversion worthy of its parabolic rise. The fact that the meme coin has reached our radar, places Shiba, at similar risk as dogecoin in May, just before its collapse.

Kraken announces support for SHIB token

In another development, Kraken, the eighth largest crypto exchange in the world, has announced its support for SHIB tokens following a recent spike in demand. In fact, the tweet has become one of the most popular announcements on its platform as it gains a massive reaction from its user base. The announcement has over 48k likes and over 18k retweets. It is just behind the tweet that the community management promised to list the meme coin if the post gets more than 2k likes. Interestingly, the tweet got over 80k likes. 

 

The optimistic mood of SHB has been unleashed following the adoption wave of the asset. Discussions have also arisen on the long-term sustainability of meme tokens with the founder of Bedrock Capital Geoff Lewis likening the SHIB craze to pets.com. Pets.com was considered one of the biggest commercial failures in the dot.com era. 

The SHIB community, called SHIBA Army, has become very large and popular with 2.1 million followers on Twitter compared to the 1.9 million Twitter followers of Ethereum. Many reports have also disclosed that some retailers are even considering accepting SHIB as a means of payment. 

Related: The meme-cryptos Dogecoin and Shiba Inu lead market recovery as Bitcoin fights for $50K

[thrive_leads id="228374"]
This article is provided for informational purposes only and is not intended as investment advice. The content does not constitute a recommendation to buy, sell, or hold any securities or financial instruments. Readers should conduct their own research and consult with financial advisors before making investment decisions. The information presented may not be current and could become outdated.

John is a seasoned cryptocurrency and blockchain writer and researcher, boasting an extensive track record of years immersed in the ever-evolving digital frontier. With a profound interest in the dynamic landscape of emerging startups, tokens, and the intricate interplay of demand and supply within the crypto realm, John brings a wealth of knowledge to the table. His academic background is marked by a Bachelor's degree in Geography and Economics, a unique blend that has equipped him with a multifaceted perspective. This diverse educational foundation allows John to dissect the geographical and economic factors influencing the cryptocurrency market, offering insights that go beyond the surface. John's dedication to the crypto and blockchain space is not merely professional but also personal, as he possesses a genuine passion for the technologies that underpin this revolutionary industry. With his astute research skills and commitment to staying at the forefront of industry trends, John is a trusted voice in the world of cryptocurrencies, helping readers navigate the complex and rapidly changing terrain of digital assets and blockchain innovation. John Kiguru is an accomplished editor with a strong affinity for all things blockchain and crypto. Leveraging his editorial expertise, he brings clarity and coherence to complex topics within the decentralized technology sphere. With a meticulous approach, John refines and enhances content, ensuring that each piece resonates with the audience. John earned his Bachelor's degree in Business, Management, Marketing, and Related Support Services from the University of Nairobi. His academic background enriches his ability to grasp and communicate intricate concepts within the blockchain and cryptocurrency space. Business Email: info@crypto-news-flash.com Phone: +49 160 92211628

Related Posts

Exit mobile version