Will whales rotating Ethereum profits to Shiba Inu measure up in the long run

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Memecoin mania has undoubtedly taken the center stage even though bigger coins presented decent market gains. Well, the reason was- massive hype and even higher gains that meme coins like Shiba Inu had to offer. Shiba’s price, for instance, was up by 1130% in less than a month. In fact, over the last quarter, Shiba generated close to 631.73% ROI to its HODLers. 

So, the pertinent question here is- can the 11th ranked coin, that initially landed in the market as a DOGE-killer, make a good addition to your portfolio?

One-hit wonder?

Over the last three months, SHIB made its way into the top ten coins by market cap. However, as the larger market gained momentum SHIB’s rank fell soon. Surprisingly the asset still holds the 11th rank and seems to be working on its use cases too.

On the other hand, Bitcoin and Ethereum have been making new ATHs, dominating the larger market with their bullish trajectory. So, does it still make sense to have SHIB in your portfolio?

Well, many thought that SHIB would be a one-hit-wonder. The coin’s market cap dominance seems to hold pretty well to that narrative. Additionally, as surprising as it may sound, Ethereum whales seem to be rotating profits to SHIB. Notably, on 8 November , ETH whale ‘Gimli’ bought 31,343,807,428 SHIB worth almost $1,729,551. 

Additionally, the total number of Shiba Inu holders has been rising for the past two months. In…

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