Data from a Nansen report shows that new crypto wallets received $56 million worth of SHIB last week. Moreover, this indicates that it is the largest crypto asset invested (excluding stablecoins).
Recent data revealed that Shiba Inu (SHIB) is the most purchased non-stablecoin token among newly activated crypto wallets in the past seven days. So the meme coin remains a favorite among investors. According to the aforementioned Nansen report, SHIB has been sent to more than 12,000 new wallets in the past seven days, the highest value for any non-stablecoin asset.
Despite being newly created, there is little evidence to suggest that these wallets actually belong to new crypto investors. However, the fact that SHIB is so common among them can be taken as a sign of the asset’s growing popularity. The data shows that more than 12,000 highlighted wallets bought up to $56 million Shiba Inu in one week.
Besides, most of the trades involving SHIB came from the Wrapped ETH (wETH) and SHIB trading pair, which seems to be a favorite among SHIB traders. The wETH/SHIB pair reportedly accounts for 65% of the liquidity and almost 25% is attributed to Bone ShibaSwap (BONE), Shiba Inu’s governing token.
Why is Meme Coin So Popular?
Interest in the Shiba Inu in the crypto space continues to grow, thanks to the project’s huge community and some promising developments. The highly anticipated launch of Shibarium has fueled demand, adding to the growing excitement about the project. SHIB recently top 100 ETH whale It has become the largest investment among
Finally, meme coin is trading down 1.58% in the last 24 hours, but retaining its 15.71% gain from last week, becoming the 7-day highest gainer among the top 25 assets.
You can follow the current price action here.
Source : the crypto basic