Shiba Inu has endured another day of sideways and downwards price action as the meme coin continues to struggle to maintain any momentum.
As CryptoNews reported last week, the SHIB community has had some exciting announcements recently, but none have prompted any significant gains.
The coin is currently trading at $0.00001085, a near 2% decrease in the last 24hrs despite trading volume increasing 28% to $120 million in the same timeframe.
SHIB remains the second-largest meme coin by volume, trailing only Dogecoin.
SHIB Gets New Exchange Listing
One announcement that could get the price moving this week is SHIB getting a listing on another new exchange.
The ‘listing effect’ is a well-known phenomenon in crypto where coins pump ahead of and after release on a new exchange.
It generally happens not only because new investors with untapped liquidity on that exchange become interested in buying the token. But also because investors and traders on other exchanges know of the knock-on effect a listing can have on the price and also take up positions.
SHIB will be listed on BitMEX this week – although it has not been confirmed when exactly it will take place.
SHIB Whale Withdraws 1.72 Trillion Tokens
At the end of last week, a Shiba Inu whale withdrew 1.72 trillion SHIB from the Huobi exchange to an unknown wallet.
It is not yet clear what the whale intends to do with the tokens, but at the time of the withdrawal, they were worth more than $19 million.
Taking coins off an exchange is usually a sign that the investor is looking to hold onto the investment and not sell for a while.
ETH Whales Load up on SHIB
According to WhaleStats, which tracks the top 100 ETH holders in crypto, SHIB flipped Locus Chain (LOCUS) after a period of accumulation to become their top holding.
WhaleStats tracking data also shows the top 5,000 ETH holders have accumulated SHIB worth nearly $140 million.
That is also their top holding –…
