KEY POINTS

  • Shiba Inu now the largest altcoin holding for whales on the Binance Smart Chain
  • This follows a whale bough140 billion SHIB
  • SHIB's latest achievement leaves Dogecoin coin in the dust

Shiba Inu extended its lead over Dogecoin as it achieved another milestone even as analysts revealed SHIB's breakout would indicate an additional 12% upside to its price.

Crypto data intelligence platform Whale Stats said that one of the top 1,000 investors on Binance Smart Chain purchased 140 billion Shiba Inu tokens. "A BNB whale just bought 139,929,254,883 $shib ($4,232,859)," Whale Stats wrote tweeted Tuesday.

The most recent buy has helped Shiba Inu to become one of the most popular altcoins in the Binance Smart Chain whales' wallets. SHIB holdings have shown a consistent increase among large wallet holders and investors.

Whales purchased a staggering 3.45 trillion Shiba Inu last week and most of these purchases were made during the dips. The dog-themed altcoin hit another milestone Sunday when it crossed 2.7 million followers.

Interestingly, while the demand for Shiba Inu among large wallet investors has dramatically increased, Dogecoin — the dog meme token on who SHIB was modeled — was left behind. Whale Stats has listed 1,175,624 Shiba Inu holders and only over 500,000 Dogecoin holders.

Interestingly, featherweight competitor BabyDoge is much ahead of SHIB with 1,403,016 holders, based on BSCscan data.

A recent technical analysis by FieryTrading revealed that SHIB is among the first cryptocurrencies to break out of the recent bearish trend. The analyst, while cautioning that there's still a "decent probability that this break out will not get any more follow-through and that SHIB will fall back inside the bull-flag, added that "in case of a bullish following move, I'm expecting SHIB to move to the 3,500 range [$0.000035] in the near future."

This particular price point is the most-awaited among SHIB investors as the token pushes closer to the 40% value of its all-time high of $0.00008845 made in October.

Shiba Inu was trading up 6.04% at $0.0000312 with a 24-hour volume of $1,664,861,402 as of 6 a.m. ET on Tuesday. Dogecoin was up 4.10% at $0.1505 with a 24-hour volume of $707,937,110, according to CoinMarketcap data.

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