Shiba Inu, which peaked in October 2021, dropped to $0.0000211 this morning, down $0.000058 from its all-time high. The four-month low was recorded on January 22, but to date, the price has risen 16% since then. It’s currently trading at $0.0000216.
Its market cap is $11,905,393,139 with over 549 million SHIB coins in circulation. During the price drop, Ethereum whales, investors who own a large amount of cryptocurrency, became interested in this coin.
According to WhaleStats, some major Ethereum holders have bought Shiba Inu today. This is due to the low and attractive price of the coin, which has lost 70% in the last 3 months. It’s worth noting that some Ethereum investors had purchased 277 million SHIB coins in October.
The second reason is the hope of investors for wider adoption of the coin after its possible placement on the Robinhood trading platform and the launch of the Shibarium layer-2 solution. In addition, Shiba Inu’s metaverse, which could become an important part of its future, aroused investor interest. To develop the game, it’s going to collaborate with William Volk and Playside Studios, which has developed over 50 successful games.