SHIB is the third most popular coin on the Ethereum network, after only ETH and FTT . Shiba Inu (SHIB) was just purchased for $1 million by an ETH whale. Accumulation and holding might be a result of reports that the SHIB would become legal tender in Turkey.
Shiba Inu, the viral meme-coin, is showing positive fundamentals, as SHIB is currently the third most owned token on the Ethereum network, behind ETH and FTT. The meme coin is also the tenth most acquired token on the Ethereum network in the previous week.
A whale on the Ethereum network spent $1 million on Shiba Inu yesterday (SHIB). The transaction was caught and published on Twitter by the WhaleStats crew.
Such a massive transaction suggests that whales are still bullish on SHIB despite the dismal sentiment in the crypto markets.
Rumors of SHIB being recognized as legal tender in Turkey as a method of preserving the country from inflation may have fueled whale interest in the meme coin. The Shiba Inu community in Turkey also stated that they met with former Economy Minister Mustafa Elitaş to explore the issue further.
At the time of writing, no update or explanation on whether SHIB will become legal tender in Turkey has been released. However, Shiba Inu acceptance in Turkey has skyrocketed to the point that ambulance services take SHIB as payment.
In terms of price, SHIB is presently trading at $0.00002141, with $0.000020 serving as support. The meme-coin is clearly in a downtrend.
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