The Dogecoin-killer Shiba Inu is now replaced by the Polygon (MATIC) as the most traded token among the top 100 Ethereum whale wallets. The recent crypto bloodbath has also left its effect on Dogecoin killer Shiba Inu, who can still hope for recovery as the growing number of partnerships and utilities could fuel a recovery of the Shiba Inu meme coin.
As big Ethereum blockchain wallet investors dumped their Shiba Inu holdings, BlueWhale0073 recently scooped up 142.6 billion SHIB tokens. Whale added these Shiba Inu tokens to his wallet for $1,539,417.
Shiba-Inu SHIB themed mem room added 30,000 new holes in just one month. Additionally, Shiba Inu’s burn rate has also steadily increased reaching level 1715 in the past 24 hours. About 203.4 million Shiba Inu chips were burned overnight according to the Shibburn portal.
The assembly by large portfolio investors is seen as bullish for coins like Shiba Inu, as it now extends to flight and hotel bookings. Recently, Shiba Inu expanded its usefulness with a new XcelTrip partnership, which is a decentralized reservation system with 450 airlines, 2 million hotels, and car rental agencies worldwide. This app is keen on mainstreaming blockchain and cryptocurrency, which has now announced its acceptance of crypto like Shiba Inu as a payment method.
while the decentralized travel agency accepts Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Bitcoin Cash (BCH), LiteCoin (LTC), Binance Coin (BNB) and the company’s native token – Xcellab Ecosystem – XcelDefi (XLD) in addition to Shiba Inu.
Additionally, analysts have assessed the Shiba Inu price trend and identified moderate volatility and they have concluded that the Shiba Inu price is protected against price manipulation and trading near resistance. The meme coin found support around $0.00001013 and resistance at $0.00001079. Shiba Inu may recover from the selloff and break out of its downtrend soon, analysts say.