According to WhaleStats data, Ethereum whales are accumulating an interesting meme coin instead of SHIB or DOGE. After Dogecoin’s massive bull run in 2021, we’ve seen thousands of dog-themed meme tokens. But among others, the ShibDoge stands out among whales.
Whales hold ShibDoge instead of SHIB and DOGE
Shiba Inu (SHIB) and Dogecoin (DOGE) have long been hot topics among the crypto community. Millions of people currently identify as Shiba or Doge Army members. Originally designed for entertainment, these tokens are gaining active acceptance. However, it is reaching more and more investors every day.
ShibDoge, on the other hand, looks like a tough new competitor for investors. In fact, ShibDoge is the most held cryptocurrency among the top 1000 ETH whales, with a total position size of $685 million according to Whale Stats. That already surpasses the second-top-ranked SHIB by $63 million.
What is the ShibaDoge project? How does it differ from all other Dogecoin and Shiba Inu clones?
A post by the project’s founder published in December became the inspiration for ShibaDoge. A developer identifying himself as Peter talked about how two projects with such similar goals, Shiba Inu and Dogecoin, became deadly rivals and engaged in a battle for control of the cryptocurrency market. Peter was a staunch supporter of the concept of decentralized communities and was fed up with the conflict between the two armies (SHIBDOGE), so he decided to found ShibaDoge. Both SHIB and DOGE whales joined the ShibaDoge team and also supported the idea.
ShibaDoge is ranked 3206 by market cap. At the time of writing, it has gained over 13% in the last 24 hours. It is currently trading at $0.00…00144.
A December blog post by founder Peter states the following for the ShibaDoge goal:
Our short-term goal is to combine 1% of this audience to create value for over 50,000 owners and over $400 million in value. By focusing on the top one percent, we believe we can bring more people together as the community embraces SHIBDOGE.
cryptocoin.com As we have reported, ShibaDoge has once again become popular among whales in the past weeks. According to data provided by WhaleStats, ShibaDoge still holds this position. ShibaDoge holds the largest token position in dollar terms of the top 100 Ethereum whales at the time of writing.
Shibdoge is a community-driven token created by the Shiba and Dogecoin whales coming together for the good of both communities. It seems that he is moving step by step towards this goal.
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