Capital in the crypto markets is turning to coins even as a new week kicks off.
The dog-themed Ethereum-based crypto asset Shiba Inu (SHIB) has soared 40% in the past 24 hours, briefly breaking a market cap of $10,000,000,000.
Rival Dogecoin (DOGE)’s rise from $0.00001259 to $0.00001762 comes just after Bitcoin and Ethereum hit key psychological resistance levels at $25,000 and $2,000, respectively.
DOGE itself is also on the rise, rising from $0.073 in the past day to a high of $0.084 – a jump of around 15%.
Both coins are pretty quiet when it comes to fundamental developments. Shiba Inu’s most recent development is the coin’s addition to Binance Card, which is a Visa debit card that allows users to earn cash in the form of crypto.
SHIB remains one of the largest altcoin holdings among Ethereum whales.
Shiba Inu is the fourth largest altcoin holder among the 5,000 largest Ethereum whales ever recorded, according to on-chain tracker WhaleStats.
here is a Insight of the top ETH altcoin holdings among the largest existing wallets.
- USDC-$943,954,202
- USDT – $767,953,374
- StETH – $395,870,787
- SHIB – $178,686,986
- BIT – $116,441,994
- MKR-$97,634,872
- LINK – $85,205,448
SHIB is down about 80% from its all-time high of $0.00008616, a high reached in October last year.
Its current price is $0.00001671, which represents a 24-hour gain of around 32%.
In a new note to traders, crypto exchange Kraken says ETH has been its most active asset over the past week as a significant number of investors have returned to the market.
“Desktop saw steady two-way flows this week. ETH was the most active asset. Many clients took advantage of the strong supply of ETH to reduce risk.
Conversely, the breakout has attracted spread buyers looking to redeploy liquidity to BTC and ETH. There was also an increase in requests for FLOW as the token rallied following the announcement of a partnership with Meta.
Don’t miss a beat – Subscribe to receive crypto email alerts straight to your inbox
Check price action
follow us on TwitterFacebook and Telegram
Surf the Daily Hodl Mix
 
Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and transactions are at your own risk and any loss you may incur is your responsibility. The Daily Hodl does not recommend the buying or selling of cryptocurrencies or digital assets, nor is The Daily Hodl an investment adviser. Please note that The Daily Hodl engages in affiliate marketing.
Featured Image: Shutterstock/DM7/Sean sinclair/karnoff