Elon Musk Makes Unexpected Shiba Inu Mention, New Indicator Shows SHIB Popular Among New Investors, Whales Move 49 Billion SHIB: Crypto News Digest by U.Today

Check out the top three news stories on the Shiba Inu meme coin brought to you by U.Today.

Elon Musk makes unexpected Shiba Inu mention, here's what happened

In a recent exchange on the platform formerly known as Twitter, Elon Musk has made an unexpected mention of Shiba Inu meme coin. It all started with a post by Jonah Katz (@dinkin_flickaa), in which the user stated that even if Twitter "rebranded to a donkey," he would still scroll for six hours every day. The post caught Musk's attention; he replied with a laughing emoji and then added, "We rebranded to a Shiba Inu dog for a while. No impact." The centibillionaire is referring to a Twitter logo change that took place earlier this year in April, when the classic bluebird logo was temporarily replaced with the Shiba Inu mascot.

New indicator shows Shiba Inu (SHIB) popular among new investors

According to a new metric introduced by IntoTheBlock firm, Shiba Inu is becoming increasingly popular with new cryptocurrency investors. The metric shows the proportion of new addresses conducting their first transactions out of all active addresses on a given day. In Shiba Inu's case, this ratio recently jumped from roughly 30% to nearly 65%, indicating a rise in new investor interest in this coin. Such an influx of new investors indicates a broadening user base, potentially driving increased liquidity and stability in the token's trading. Additionally, this might also suggest expanding acceptance of meme coins on the wider crypto market.

Related

Tue, 07/25/2023 - 12:43

20 Trillion SHIB Reach Break-Even Point as Shiba Inu Kicks into Top Market Performers

Gamza Khanzadaev

Whales shift 49 billion SHIB as Shibarium hits new all-time high

As reported by Etherscan, yesterday, almost 50 billion SHIB tokens were moved by several crypto whales. Eighteen transactions were moved to Bybit exchange hot wallet, with the biggest one carrying 9,571,054,391 SHIB. One billion SHIB were shifted to KuCoin, and 2.4 billion Shiba Inu were sent to the Binance exchange. A few billion SHIB were withdrawn from crypto exchanges, and the rest of the 28.7 billion meme coins was moved between unknown wallet addresses. In the meantime, the Shibarium beta Puppynet has reached yet another all-time high as its transaction count has added another million transactions and currently stands at 32,588,978.