The expert says that it is impossible to neglect Shiba Inu

Cryptocurrency enthusiast Asiwaju Lerry highlights the importance of some meme-based tokens, such as Shiba Inu (SHIB), in the current crypto ecosystem.

Lerry pointed out that it is impossible to overlook Shiba Inu and three other memecoins, such as Dogecoin (DOGE), Floki (FLOKI), and Bonk (BONK). The expert said that Shiba Inu has surpassed a billion-dollar market capitalization along with these three canine-themed tokens.

In particular, Lerry’s statement serves as a call for investors to pay attention to these memecoins due to their notable popularity and influence within the broader cryptocurrency market.

Rating of the best dog-themed tokens

It is worth mentioning that the four memecoins mentioned in the tweet are referred to as dog-themed tokens due to their use of dog-related imagery in their branding. The memecoins on the list have surpassed the market capitalization of one billion dollars.

Dogecoin, which tops the memecoin chart, currently boasts a valuation of $21.37 billion. Shiba Inu is the second largest memecoin, with a market capitalization of $14.06 billion. Floki and Bonk are ranked as the fifth and sixth largest memecoins, with a value of $2.8 billion and $1.92 billion, respectively.

These memecoins have continued to attract investor attention, with whales (large investors) mixing up huge amounts of these tokens.

– Announcement –

Whale interest in Shiba Inu

For example, The Crypto Basic reported that big investors moved a whopping 4 trillion SHIBs into the stock market in two weeks. As of early this month, nine wallets in total splashed $35.2 million to acquire 1.35 trillion SHIB tokens in 12 hours. Notably, two of the nine wallets belong to crypto-whales.

Furthermore, also the popular cryptoanalysis platform Lookonchain reported on June 5, an Ethereum whale purchased 715.9 billion SHIBs worth $18.44 million.

These transactions highlight the growing interest in memecoins, particularly Shiba Inu.

The quality of Shiba Inu surpasses thousands of Solana Memecoins

In addition to Lerry, other major crypto stakeholders have also called attention to Shiba Inu’s ability. AS reported Yesterday, famous Ethereum researcher Justin Drake shed some light on the quality and dominance of Shiba Inu. According to Drake, Shiba Inu’s quality surpasses thousands of memecoins, especially those built on the Solana blockchain.

The expert said that market participants cannot compare the combined valuation of all Solana-based memecoins with that of Shiba Inu.

He noted that while Solana-based memecoins have an overall valuation of around $10 billion, SHIB is valued at $15 billion. Drake made this statement before the market suffered a major downturn that wreaked havoc on cryptocurrency prices, including SHIB.

Disclaimer: This content is informational and should not be considered financial advice. The opinions expressed in this article may include the personal opinions of the author and do not reflect the opinion of The Crypto Basic. Readers are encouraged to do thorough research before making any investment decisions. Crypto Basic is not responsible for any financial losses.

-Announcement-

Fuente