Is Shiba Inu ETH whales’ favorite? Price action could be key
Bear markets come and go, but investors’ love for SHIB remains forever. Well, that’s exactly the case here as we see Shiba Inu’s yet another bond with dominant buyers.
Slowly and Steady
The #15th ranked cryptocurrency saw a fresh 3% surge at press time as it traded at $0.00001. Even the total market capitalization rose by 3.5% on CoinMarketCap. This spark does, indeed, point towards a potential bullish bias that might continue in the coming days.
Well, the popular meme coin did showcase some recovery, especially in monthly transactions. SHIB transactions in July 2022 stood at 211,833- a gain of 34% from the 15-month low value of 157,889 recorded in June, according to statistics from the blockchain analytics website bloxy.info.
Source: bloody.info
Notably, the hike wasn’t significant enough compared to the last year.
Moreover, to support this incline, even keyword searches on Google Trends highlighted a good cause. Here’s the graph below over the 90-day mark.
Source: Google Trends
The said surge brought much-needed relief for the network and therefore the related token. Consider this, just a week ago, global Google search queries for the keyword ‘Shiba Inu’ dropped to the lowest level in over a year for 12 months.
The community even saw the latest development as a medium to cherish the pup. Herein, developers behind the popular meme cryptocurrency Shiba Inu unveiled the name of its long-awaited CCG game.
According to the announcement, the game, called “Shiba Eternity” was made available to players on the Apple app store and Google play store.
This coupled with the aforementioned developments helped the trading volume to go up.
Source: Santiment
As per Santiment, an analytic platform, the trading volume rose to the 360.9 million mark,
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