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Alex Dovbnya

Shiba Inu is back above Avalanche after a 25% price spike

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The price of Shiba Inu has added more than 25% over the past 24 hours, vastly outperforming the rest of the cryptocurrency market.

The meme token has now surpassed Avalanche, and it’s now close to flipping rival Dogecoin once again.

SHIB
Image by coinmarketcap.com

The most recent spike came after Kraken, one of the largest crypto exchanges, added support for Shiba Inu on Monday, putting an end to almost a month-long wait. 

A few hours ago, a mysterious Ethereum whale nicknamed “Gimli” also bought an additional 24.8 billion SHIB tokens that were worth roughly $1 million at the time of the purchase. They currently own $56 million in the second-largest canine cryptocurrency, which is the wallet’s second-biggest holding after Ether.  

The whale also holds $26 million worth of Decentraland ($MANA), the largest metaverse token on the Ethereum blockchain.

Shiba Inu is still down 42% from its lifetime peak that was reached on Oct. 28.





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