Keep buying Shiba Inu (SHIB) as Coin Meme still has the potential to revolutionize the next Bull Run

After a market growth of 8%, Shiba Inu (SHIB) remains in the top ten best-selling tokens of the 1000 largest ETH wallets.

Shiba Inu (SHIB) loses first Ethereum whale dominance

After further depreciation, the net worth of SHIB owned by whales fell to move up to second place. The overall dominance of SHIB is 7.68%, while other tokens account for 6.58% of all whale populations.

Source: whale statistics.

The dizzying fall in prices has reportedly not stopped since late October, with the Shiba Inu losing over 60% of its last ATH, suggesting traders or whales are unwilling to support or fuel new bullish gains. Another reason could be that the risk in the crypto market has gone up to the extreme. Investors are now choosing safer options like stablecoins to avoid further losses in the market.

Most cryptocurrencies, including Shiba Inu, are consolidating within a certain range and waiting for the next bullish move. Whales often use this time to gather their favorite discounted brands.

Source: whale statistics.

This leads some analysts to believe that investor interest in the meme token, which peaked this year, could continue until 2022. SHIB is up 58,291,247 percent last year, according to data from CoinGecko.

SHIB adoption continues to grow as Flexa, a cryptocurrency payments company, added support for Shiba Inu, which means SHIB holders can now spend it in nearly 40,000 stores across the United States. A growing list of supported retailers includes GameStop, Nordstrom, Lowe’s, Petco, Bed Bath & Over and over, Ulta Elegance and many more.

BitPay, the largest payments company, also recently announced the integration of Shiba Inu into its wallet, allowing you to store, buy, exchange and spend cryptocurrencies.

SHIB is not the only token on the market that is rapidly falling in value. The token’s closest competitor, Dogecoin, is currently losing 45% of its local high of $ 0.3 on October 29.