Dogecoin Lags as Shiba Inu Attracts Big Investors

Shiba Inu's Bullish Momentum Amidst Market Downturn

Shiba Inu (SHIB), the second-largest meme token, has witnessed a surge in large-scale holdings, indicating a bullish sentiment among investors.

On August 12th, SHIB's whale wallet holdings skyrocketed from 27.06 billion to 161.15 billion. This significant increase suggests that whales are accumulating SHIB during the recent market downturn.

Analyst Oscar Ramos predicts that SHIB is poised for a substantial breakout, citing the strong buying pressure from large investors.

Despite the broader bearish crypto market, SHIB's on-chain metrics paint a positive picture. IntoTheBlock reports a 600% increase in whale holdings, while its competitor, Dogecoin (DOGE), has remained stagnant.