At the time of this writing, Shiba Inu (SHIB) was among the most profitable assets following the sale session over the weekend.
Looking at CoinMarketCap, SHIB topped the 14th position with a market value of $ 5.66 billion to overtake Polygon (MATIC) in 18th place with a market value of $ 4.5 billion.
Even so SHIB has a lower 24 -hour trading volume than MATIC.
According to sources, the number of SHIB holders is seen to increase to $ 1,619 million to surpass FTX tokens for the largest holdings by dollar.
It is good news that reflects the growing community of its growing community against the backdrop of a ‘negative’ market over the past few months.
However, the matter did not immediately affect the price of SHIB and may be only an initial reaction to long-term interest in cryptocurrencies.
This is supported by the trend of SHIB which has not experienced a significant price increase in almost 2 months, where the asset is seen to be limited to lower low and low high levels since October.
Meanwhile, the mother of all cryptocurrencies Bitcoin (BTC) exhibited a ‘hold’ pattern ahead of the reading of the United States (US) inflation data which signaled volatility.
During the Asian trading session, BTC was at $ 19,500 and had no significant change since last week’s 11% fall.
In general, the global market calms down for a while as investors take a breather in the countdown to data issuance.
Pepperstone Group researcher Chris Weston said if the inflation reading is below 8.5% then it gives the scenario that the dollar is ‘down universally’ while ‘crypto is up 5%’.
Like to note that the factors of rate hikes, the collapse of Terra and the collapse of the crypto hedge fund by Three Arrows Capital have caused BTC to decline 58% this year.
