Shiba Inu outpaced Dogecoin’s gains last week
- Posted on June 3, 2022
Shiba Inu surged nearly 17% last week, outperforming rival meme cryptocurrency Dogecoin
Shiba Inu Price
, a cryptocurrency inspired by Dogecoin
, up 16.6% over the past week, outpacing the nearly 4.4% gain of rival meme cryptocurrency.
What happened
Earlier on Monday, the Shiba Inu was up 3.7% over the past 24 hours at $0.000008372, while Dogecoin was down 1.5% at $0.2153 over the same period.
According to CoinTrendz, the two cryptocurrencies are currently the sixth and seventh most mentioned cryptocurrencies on Twitter.
because it matters
The Shiba Inu rally comes after the International Business Times reported that unidentified crypto whales who bought a staggering 6 trillion Shib tokens on Friday bought back a total of 276 billion Shiba Inu tokens on Saturday, three separate transactions.
Bulk buying increases the value of the cryptocurrency, which calls itself a “Dogecoin killer.”
The purchases were made under speculation about Robinhood Markets Inc.
It may include Shiba Inu shortly after the launch of the long-awaited crypto wallet feature.
Last month, cryptocurrency exchange Coinbase Global Inc.
List the token on its trading platform.
Shiba Inu surged nearly 17% last week, outperforming rival meme cryptocurrency Dogecoin