The cryptocurrency market is shaken by sharp drops. However, the interest of the crypto communities in the projects continues. The Shiba Inu (SHIB) and BabyDoge communities have reached a new milestone. Also, San Francisco-based crypto exchange Kraken is launching Dogecoin futures. Keep reading us for details.
Shiba Inu (SHIB) community reaches a new milestone
The official Twitter account of meme coin Shiba Inu has reached a new milestone with 3.4 million followers. For comparison, rival meme coin Dogecoin also has around 3.4 million Twitter followers. SHIB has seen growth in recent months and has added over 700,000 followers since February.
In addition, the number of Shiba Inu’s holders continues to increase. The total number of SHIB holders rose to 1,182,817, according to WhaleStats. While the increase in the number of holders does not immediately affect the price, it indicates long-term interest in an asset.
WhaleStats’ analysis of the top 100 SHIB holders shows that crypto whales interact with billions of Shiba Inu. This reflects a 20% increase in active addresses. So Shiba Inu whales have become more active in the last 24 hours.
Blockchain data tracker also reported that Shiba Inu is flipping FTX in the largest holdings of the 100 largest ETH whales. According to WhaleStats, SHIB accounts for $403,974,830, or 14.53% of the whales’ assets.
Dogecoin futures will be listed on the largest US exchange
San Francisco-based crypto exchange Kraken is preparing to list futures contracts for Dogecoin. This shows that support for Dogecoin is expanding.
The futures contract derives its value from its underlying cryptocurrency, Dogecoin. In this case, it allows the person to buy the cryptocurrency without real ownership. Trade will start on Monday, June 20. Kraken is also preparing to offer futures contracts for Tron’s TRX and Fantom’s FTM. Several exchanges have previously launched support for Dogecoin futures, as we have reported as Kriptokoin.com .
In July 2020, Binance announced the launch of perpetual DOGE/USDT contracts on its derivatives platform Binance Futures. OKEx also listed a permanent DOGE/USDT pair, adding support for DOGE trading on spot margin trading. In the same month, Bitfinex announced the listing of MegaDogecoin (MDOGE), which is equal to one million ‘regular’ DOGE.
The BabyDoge community continues to expand
The Twitter account of the popular meme cryptocurrency BabyDoge announced that the number of followers has exceeded 1.45 million.
While it was 1 million in February, this number was 1.3 million on 29 April. Thus, BabyDoge has added nearly half a million Twitter followers in the last 5 months. This isn’t the only milestone BabyDoge has reached recently. Earlier this week, the number of BabyDoge offerings in circulation was finally confirmed by CoinMarketCap.
In addition, the number of BabyDoge holders reached an all-time high of 1,550,000 addresses. At press time, the price of the meme token has dropped 11.42% over the past 24 hours to $0.0000000011.
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