Top 500 ETH whales buy SHIB and TAMA! In the cryptocurrency industry, coin memes are garnering attention. Having benefited from the enthusiasm of the community, but also of billionaires as with Dogecoin and its supporter Elon Musk, more and more meme coins are gaining notoriety now.
This is particularly the case of the Shiba Inu which is the direct competitor of Dogecoin and also of Tamadoge, a new project aimed at dismantling the potential of meme coins.
Thus, these two cryptos have recently taken center stage as several ETH whales have decided to invest in them. As a reminder, whales, in the world of cryptocurrencies, generally refer to any investor holding large amounts to the point that they can influence the market.
Therefore, a massive purchase from them of SHIB or even TAMA can be positive for the value of these coins.
READ MORE: Will Dogecoin Ever Reach $1?
The growing interest in whales for SHIB and TAMA
The cryptocurrency market is still in the throes of a crisis that is paralyzing the majority of its major coins. However, this hardly prevents investors from taking an interest in projects that are a bit out of the ordinary, such as meme coins. Since they are only slightly affected by the bear market, SHIB and TAMA attract not only small investors but also whales.
Indeed, recent reports have revealed that these play an important role in increasing the value of meme coins. This is particularly the case for SHIB where almost half of the tokens in circulation are controlled by several whales.
In addition, for many reasons, the interest of whales in SHIB and TAMA has increased even more, so the ETH whales in the top 500 have recently bought SHIB and TAMA. Such enthusiasm for SHIB can translate into new projects in the Shiba Inu ecosystem, just as with Tamadoge, the new Play to Earn meme coin has something to pique the curiosity of investors.
Beyond SHIB and TAMA, there is also VRA (for the Veracity crypto) which seems to be of interest to these whales as indicated by the Whalestats Twitter account which showed that the top 500 ETH whales were buying quite large quantities from their days.
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The value of the Shiba Inu could increase by more than 150%
Since the spectacular rise in its value a few months ago, the SHIB token has been facing a resistance zone that is preventing it from evolving. A situation that has led many of its holders to abandon cryptocurrency to take an interest in something else.
However, many reports seem to indicate that Shiba Inu could very well see its price double if it manages to break through its resistance zone.
An opportunity that many find too good to miss since the drop in the Shiba Inu exchange price has given the possibility of accumulating more SHIB tokens. According to data from WhaleStats, over 3 trillion SHIB has been accumulated by ETH whales in the past few months.
Why such a sudden craze for the SHIB?
If ETH whales are interested in the iconic coin meme today, it is mainly because of the increasing rate of its token. Shiba Inu also seems very attractive because he recently announced the development of new projects based on his token: an ecosystem ready for the Metaverse.
One of the most recurring problems with SHIB is the huge amount of tokens in circulation. In order to remedy this, there is a method called burn. This consists of “deleting” a large part of the tokens in circulation by sending them to an address where they will never come out.
Thus, nearly 263.4 billion SHIBs have been burned since last October. An initiative that will increase the scarcity of the token can have a positive impact on the price of crypto.
Tamadoge: a new project in full expansion
The success of Dogecoin and Shiba Inu has spawned the creation of several other projects in the coin meme category. Among these new projects, one of them particularly attracts the interest of investors: Tamadoge (TAMA).
This cryptocurrency purpose has managed to raise more than €800,000 in the last few days. A rising investment rate that comes from the loss of investor confidence in Dogecoin.
Indeed, although the DOGE token still enjoys a high valuation currently, it is still unable to overtake TradFi payment methods such as Visa as a medium of exchange. A difficulty that has certainly prompted many of its investors to abandon it to turn to new crypto-currency projects.
Tamadoge is the project that benefits the most from this disinterest in DOGE, as it presents quite attractive advantages to investors. Indeed, it will be a Play to Earn based on Tamagotchis and mixing the Metaverse with the experience via their own universe called Tamaverse.
Thus, players will have the opportunity to raise and train virtual pets with which they will fight against other players to earn cryptocurrencies.
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