Shiba Inu (SHIB), one of the popular altcoin projects, has been rising in the last two days; David Gokhshtein, a former politician, continues to express his positive thoughts about the coin.
Gokhshtein emphasized that the altcoin project has risen more than BTC
As we have reported as Kriptokoin.com, SHIB has increased by 15 percent in the last two days. Moreover, it exceeded the $0.000014 level. David Gokhshtein believes that once SHIB starts to move, other major meme coins will start to grow as well. Other top meme coins with popularity close to SHIB seem to be Floki Inu (FLOKI) and Baby Doge Coin (BabyDoge). Dogecoin is the ancestor of these coins.
When $SHIB moves, all of the other top meme tokens start moving.
— David Gokhshtein (@davidgokhshtein) February 4, 2023
As a result, Gokhshtein therefore confirmed his support for the second largest meme coin in a series of tweets. He also reminded his followers that the Shiba Inu has recorded higher growth than Bitcoin since the beginning of the month. The price of the Shiba Inu rose roughly 35 percent during the period in question. Bitcoin’s growth was 5.43%. “Stop trolling SHIB,” he added.
Latest situation on SHIB price
Recent price increases for the Shiba Inu can be attributed primarily to the increase in burn rate. As we reported as Kriptokoin.com, in the first month of 2023, approximately 1.12 billion tokens were disposed of through the “burn portal” of SHIB. Experts believe that the recent announcement of Canadian crypto payment gateway FCF Pay that it will support the three main tokens of the Shiba Inu ecosystem (SHIB, LEASH and BONE) on prepaid Visa and Mastercard cards also contributed to the rise of SHIB.
Cardholders of FCF Pay will soon have the ability to preload their cards with $5,000 worth of SHIB, LEASH and BONE, in addition to other cryptocurrencies such as Bitcoin and major stablecoins. Also, SHIB, which has garnered a huge following since its launch in August 2020, is currently the most traded cryptocurrency among the top 1,000 Ethereum whales, according to WhaleStats. Crypto also holds the largest place in terms of dollar value.
There are also claims that the launch of Shiba Inu’s layer-2 solution, Shibarium, could lead to the destruction of trillions of tokens. As these tokens are consumed, the supply decreases and the value rises. The Shibarium Blockchain is featured by the faster expansion of the Shiba Inu Web3 ecology. Moreover, SHIB burning will take place in Shibarium. In the last 24 hours, meme coin’s trading volume has exploded at a remarkable 94 percent. WhaleStats also noted that investors hold amounts as high as $631 million in SHIB.
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