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Shiba Inu surges 114% YTD, with Ethereum whales driving interest as they accumulate SHIB and Remittix for cross-border payments.
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Shiba Inu’s price has surged over 114% on its year-to-date chart, signaling an increasing bullish momentum despite dipping over 11% in the last 30 days. As the holidays approach, Ethereum whales are at work accumulating DeFi tokens and meme coins such as SHIB, as reports highlight a significant move by whales to withdraw ETH from exchanges.
Shiba Inu’s interest is already surging, as seen by its recent uptick in large transactions thanks to the favor of Ethereum whales. Onlookers anticipate Shiba Inu’s ascent beyond its meme coin status thanks to the developments launched in its ecosystem.
Ethereum whales are also accumulating Remittix, which is a promising PayFi project built on the Ethereum network. Remittix is revolutionizing cross-border payment with an intuitive design that allows non-crypto users to receive payments made in crypto.
Ethereum whales withdraw Ethereum from exchanges as the bull run starts
Ethereum’s price had briefly breached the $4,000 resistance mark as Ethereum’s spot ETF’s registered capital inflow above $100 million. This is a huge indicator of increased institutional appeal towards Ethereum, and it comes at a time when Ethereum whales are accumulating even more ETH and taking it out of exchanges.
While Ethereum’s price has had a sluggish bullish resurgence, analysts opine that increased institutional adoption of Ethereum, as seen through Ethereum’s ETFs, will result in an uptick in the long run as it requires a lot more liquidity to move ETH. Even so,
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