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Not DOGE or SHIB, But ShibDoge Is Most Held Coin Among ETH Whales

Wed, 07/13/2022 - 12:08
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Gamza Khanzadaev
Ethereum whales hold $700 million in ShibDoge, Shiba Inu has $80 million less
Not DOGE or SHIB, But ShibDoge Is Most Held Coin Among ETH Whales
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Shiba Inu (SHIB) and Dogecoin (DOGE) have been on the crypto world's agenda for a long time. Coins originally invented for fun are being actively adopted, and their number of holders grows day by day, with millions of people already calling themselves Shiba Army or Doge Army members.

However, it seems that they have a new serious competitor in the form of ShibDoge. It is so serious, in fact, that according to Whale Stats, ShibDoge is the most held coin among the top 1,000 ETH whales, with a total position size of $685 million. This is already $63 million more than SHIB, which occupies the second line at the top.

What is the ShibaDoge project, and how does it differ from the countless clones of Shiba Inu and Dogecoin?

Bringing together mortal enemies

The roots of ShibaDoge are in a December Medium post from the project's founder. A man who introduced himself as Peter discusses how two projects so similar in their aspirations, Shiba Inu and Dogecoin, turned into mortal enemies and waged a war for dominance of the crypto market. Being a loyal follower of the idea of decentralized communities and tired of the struggle between the two armies, Peter decided to create ShibaDoge (SHIBDOGE). At the same time, SHIB and DOGE whales were encouraged enough to support the project and join the ShibaDoge team.

Whether the rapid rise of ShibDoge is due to the participation of whales or whether the project really has a fundamental chance of success is yet to be known, but the facts have arrived.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.