Car rental agency

Why Whales Buy Billions of Shiba Inu Tokens

  • Decentralized online booking platform XcelTrip has partnered with Shiba Inu, SHIB can now be used for flight and hotel bookings.
  • Ethereum whale “BlueWhale0073” recently scooped 142.6 billion Shiba Inu tokens as other large portfolio investors dumped their SHIB holdings.
  • Analysts believe that Shiba Inu may soon break out of its downward trend.

Dogecoin killer Shiba Inu recently witnessed a price drop in the crypto bloodbath. However, the growing number of partnerships and utilities could fuel a revival of the Shiba Inu meme coin.

An Ethereum whale picks up Shiba Inu

As major wallet investors on the Ethereum blockchain dumped their Shiba Inu holdings, “BlueWhale0073” recently scooped up 142.6 billion SHIB tokens. The whale added these Shiba Inu tokens to his wallet for $1,539,417.

Accumulation by large portfolio investors is seen as bullish for coins like Shiba Inu. Polygon (MATIC) replaced Shiba Inu as the most traded token among the top 100 Ethereum whale wallets.

Shiba Inu expands in flight and hotel bookings

Shiba Inu recently expanded its usefulness with a new partnership. XcelTrip is a decentralized reservation system with 450 airlines, 2 million hotels and car rental agencies worldwide. The app is keen to mainstream blockchain and cryptocurrency, and recently announced the acceptance of cryptocurrencies like Shiba Inu as payment.

The decentralized travel agency accepts Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Bitcoin Cash (BCH), LiteCoin (LTC), Binance Coin (BNB) and the company’s native token – Xcellab Ecosystem – XcelDefi (XLD) in addition to the Shiba Inu.

Analysts Predict Shiba Inu Price Recovery

Analysts have assessed the Shiba Inu price trend and identified moderate volatility. Analysts have concluded that the Shiba Inu price is protected from price manipulation and trading near resistance. The meme coin found support around $0.00001013 and resistance at $0.00001079.

Shiba Inu may be recovering from the selling pressure and the breakout of its downtrend.