Shiba Inu suffered heavy losses in the latest market drop. However, an increasing number of partnerships and utilities are driving whales to buy meme tokens again
Ethereum whale named BlueWhale0073 bought a million dollar Shiba Inu (SHIB)
Ethereum whales continue to sell Shiba Inu. A giant whale named “BlueWhale0073” recently collected 142.6 billion SHIB. With this purchase, Whale added a Shiba Inu to its portfolio worth $1,539,417. Purchases made by major wallet investors are considered bullish for meme tokens like Shiba Inu. Meanwhile, Polygon (MATIC) replaced Shiba Inu as the most traded token among the top 100 Ethereum whale wallets.
Shiba Inu expands flight and hotel reservations
As we reported on Cryptokoin.com news, Shiba recently launched a new partnership. expanded utility. XcelTrip is a decentralized reservation system provider with 450 airlines, 2 million hotels and car rental agencies worldwide. The app is keen to bring blockchain and cryptocurrency into the mainstream and has recently announced that cryptocurrencies like Shiba are accepted as payment.
Decentralized travel agency, Bitcoin (BTC), Ethereum (ETH) ), Tether (USDT), Bitcoin Cash (BCH), LiteCoin (LTC), Binance Coin (BNB), and the company’s native token – Xcellab Ecosystem – XcelDefi (XLD). With the last announcement, Shiba Inu was added to these cryptocurrencies.
What on-chain metrics say for SHIB
SHIB’s RSI data has been resting in oversold territory for the past two weeks. The MACD is clearly pointing to bearish momentum. The width of the Bollinger Bands (BB) shows that volatility is allowed.
Also, as the chart below shows, market capital continued to follow gravity, although volume rose sporadically after April 13.
Also, looking at Shiba’s social volume metric, it seems that investors showed great interest in SHIB on April 21. In fact, the meme token’s social dominance that day was 5.79%. However, SHIB failed to impress its investors as volume decreased.
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