Elon Musk Makes Unexpected Shiba Inu Mention, New Indicator Shows SHIB Popular Among New Investors, Whales Move 49 Billion SHIB: Crypto News Digest by U.Today – U.Today

wp header logo 2433

Check out the top three news stories on the Shiba Inu meme coin brought to you by U.Today.
In a recent exchange on the platform formerly known as Twitter, Elon Musk has made an unexpected mention of Shiba Inu meme coin. It all started with a post by Jonah Katz (@dinkin_flickaa), in which the user stated that even if Twitter “rebranded to a donkey,” he would still scroll for six hours every day. The post caught Musk’s attention; he replied with a laughing emoji and then added, “We rebranded to a Shiba Inu dog for a while. No impact.” The centibillionaire is referring to a Twitter logo change that took place earlier this year in April, when the classic bluebird logo was temporarily replaced with the Shiba Inu mascot.
According to a new metric introduced by IntoTheBlock firm, Shiba Inu is becoming increasingly popular with new cryptocurrency investors. The metric shows the proportion of new addresses conducting their first transactions out of all active addresses on a given day. In Shiba Inu’s case, this ratio recently jumped from roughly 30% to nearly 65%, indicating a rise in new investor interest in this coin. Such an influx of new investors indicates a broadening user base, potentially driving increased liquidity and stability in the token’s trading. Additionally, this might also suggest expanding acceptance of meme coins on the wider crypto market.

20 Trillion SHIB Reach Break-Even Point as Shiba Inu Kicks into Top Market Performers

As reported by Etherscan, yesterday, almost 50 billion SHIB tokens were moved by several crypto whales. Eighteen transactions were moved to Bybit exchange hot wallet, with the biggest one carrying 9,571,054,391 SHIB. One billion SHIB were shifted to KuCoin, and 2.4 billion Shiba Inu were sent to the Binance exchange. A few billion SHIB were withdrawn from crypto exchanges, and the rest of the 28.7 billion meme coins was moved between unknown wallet addresses. In the meantime, the Shibarium beta Puppynet has reached yet another all-time high as its transaction count has added another million transactions and currently stands at 32,588,978.
Valeria is the community manager at U.Today. She is a crypto enthusiast and believes that cryptocurrency is the future of finance. Currently, Valeria covers the latest news in the world of crypto and blockchain.
Disclaimer: The opinions expressed here are not investment advice; they are provided for informational purposes only. The opinions expressed by our writers are their own and do not represent the views of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. We do not recommend investing money you cannot afford to lose.


About the author

Anand Narayanaswamy

Anand Narayanaswamy

Anand is a seasoned journalist with over 15 years of experience in technology reporting. He holds a Master's degree in Computer Science and has worked with several leading tech publications. Anand oversees the editorial direction of The Hoops News, ensuring that the content meets the highest standards of journalism. In his free time, he enjoys reading about quantum computing and playing chess.