Shiba Inu Rival $FLOKI Becomes Most Purchased Tokens by $BNB Whales After Major Token Burn Proposal

A Shiba Inu ($SHIB) rival and a popular meme-inspired cryptocurrency, Floki Inu ($FLOKI), has recently become the most purchased token among the 500 largest whales on the $BNB chain after the project proposed a massive token burn.

Timeline of Bnb, Floki-inu, Shiba-inu

Voting is still happening to determine the best way to integrate Uniswap v3 into the BNB network. The voting process, however, has been anything but straightforward, with some venture capitalists (VCs) holding differing positions on the deployment.

In a Twitter thread posted on Feb. 9, Conor Grogan, Director at Coinbase, shared his observations on the Shiba Inu (SHIB) cryptocurrency market. According to Grogan, on October 27, 2021, the largest SHIB farmer unstaked $107 million of the digital asset and sent it all to various exchanges, including FTX, Huobi, Binance, and OKX.

A crypto venture firm has snapped up billions of Shiba Inu (SHIB) tokens during a massive multimillion-dollar accumulation spree. New data from blockchain search engine Etherscan reveals that Chicago-based trading firm Jump Trading has seen its trove of SHIB grow exponentially from 250,000 on February 4th to just over 130.7 billion at time of writing.

The price of the Shiba Inu token has fallen by more than 7% in the past two days, after rising by more than 28% since the beginning of February. While SHIB's price has gone down along with the crypto market due to a general correction, there have still been entities buying the token.

Data shows that Shiba Inu is the number one cryptocurrency in the market based on the growth of its Telegram community. Shiba Inu Tops The Telegram Community Growth List As per data from a crypto analytics service on Twitter, SHIB currently has the fastest Telegram community growth in the market.

A popular crypto analyst believes traders are starstruck by the rise of Shiba Inu (SHIB) and sleeping on Dogecoin (DOGE). Pseudonymous analyst Smart Contracter tells his 220,200 Twitter followers that the ninth-largest crypto asset by market cap is now showing strength when paired against Bitcoin (BTC).

Even though the crypto market opened the year on a bullish note, the start of February has not been a smooth ride. In the last seven days the crypto market led by Bitcoin has experienced a major pull back.

Shiba Inu Coin News: Among the latest updates by the Shiba Inu team is the launch of the layer-2 scaling solution, Shibarium. According to recent updates, crypto analysts believe it will solidify the $SHIB reputation in the crypto market.

Anticipation for the launch of Shibarium has officially reached its peak with CoinMarketCap noting 1.3 million wallets holding SHIB. The token has seen a gradual increase since the start of the month, with Shiba Inu ushering February with 1.2 million wallets.

Binance Coin [BNB] posted steady gains throughout January 2023 and succeeded in breaking above the $315 level of resistance in early February 2023. This level of resistance has been significant since November 2022.