Expert says it’s impossible to neglect the Shiba Inu

Avid crypto enthusiast Asiwaju Lerry highlights the importance of certain meme-based tokens, like Shiba Inu (SHIB), in today’s crypto ecosystem.

Lerry emphasized that it is impossible to overlook Shiba Inu and three other memecoins, such as Dogecoin (DOGE), Floki (FLOKI), and Bonk (BONK). The expert mentioned that Shiba Inu has surpassed a $1 billion market cap alongside these three canine-themed tokens.

Notably, Lerry’s statement calls on investors to pay attention to these memecoins due to their notable popularity and influence in the broader crypto market.

Rating of the best dog-themed tokens

It is worth mentioning that the four memecoins mentioned in the tweet are called dog-themed tokens due to their use of dog-related imagery in their branding. The memecoins on the list have surpassed a market capitalization of $1 billion.

Dogecoin, which tops the memecoin rankings, currently has a valuation of $21.37 billion. Shiba Inu is the second largest memecoin, with a market capitalization of $14.06 billion. Floki and Bonk are ranked as the fifth and sixth largest memecoins, valued at $2.8 billion and $1.92 billion, respectively.

These memecoins have continued to attract investor attention, with whales (large investors) mixing in huge amounts of these tokens.

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The interest of whales in Shiba Inu

For example, The Crypto Basic reported that large investors transferred 4,000 billion SHIB to the stock exchanges in two weeks. Earlier this month, nine wallets collectively splashed $35.2 million to acquire 1.35 trillion SHIB tokens in 12 hours. Notably, two of the nine wallets belong to crypto whales.

Additionally, popular crypto analysis platform Lookonchain also reported on June 5, an Ethereum whale purchased 715.9 billion SHIB worth $18.44 million.

These transactions highlight the growing interest in memecoins, including Shiba Inu.

Shiba Inu Quality Exceeds Thousands of Solana Memecoins

Besides Lerry, other major crypto players have also drawn attention to Shiba Inu’s prowess. As reported Yesterday, popular Ethereum researcher Justin Drake shed light on the quality and dominance of the Shiba Inu. According to Drake, the quality of the Shiba Inu exceeds that of thousands of memecoins, especially those built on the Solana blockchain.

The expert said that market participants cannot compare the combined valuation of all Solana-based memecoins to that of Shiba Inu.

He noted that while Solana-based memecoins have a combined value of around $10 billion, SHIB is valued at $15 billion. Drake made this statement before the market experienced a major downturn that wreaked havoc on the prices of cryptocurrencies, including SHIB.

Disclaimer: This content is informational and should not be considered financial advice. The opinions expressed in this article may include the personal opinions of the author and do not reflect the opinions of The Crypto Basic. Readers are encouraged to conduct thorough research before making any investment decisions. Crypto Basic is not responsible for any financial losses.

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