The canine-dominated meme market is once again making headlines as Shiba Inu (SHIB) replaces XRP in an investor’s portfolio. Sheikhah Alya, a prominent crypto commentator, revealed to her 92,000 followers that she sold all her XRP and bought SHIB with the same funds. This crypto investor sentiment shift has barely moved the Shiba Inu’s price.
The comment section of this short yet powerful post caused chaos. This Shiba Inu investor shift caught the eye of several community members. The XRP community was quick to rush in and question the investor’s latest move. One X user commented,
Meanwhile, the SHIB Army lauded Alya. The Dubai-based investor seems to be a big supporter of Shiba Inu. Looking back at early January, Alya predicted that SHIB could “print the largest green candle in crypto history.”
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Shiba Inu Investor Shift Amid XRP Sell-Off and Rising SHIB Accumulation
This massive shift comes as a major surprise, given that XRP has been in the market longer than Shiba Inu. However, recent data from Etherscan shows a steady increase in the total number of SHIB holders. This further indicates that more wallet addresses are accumulating SHIB tokens.
Over the past month, both XRP and Shiba Inu recorded massive downtrends. Shiba Inu dipped by a staggering 30.61% throughout the past 30 days. XRP witnessed a fall of 32.82% during the same period.
At press time, Shiba Inu’s price stood at $0.000006013 following a 3.66% plummet over the past 24 hours. XRP, on the other hand, was trading at $1.40 after a 3.24% daily drop.
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Short-Term Price Prediction
Sadly, the ongoing bearish trend is expected to continue throughout the week. According to recent data from CoinCodex, Shiba Inu’s price will record a drop of nearly 2% by the end of the week. The meme coin is expected to dip down to $0.000005944 on February 12, marking a weekly low.
Despite this, crypto investor sentiment in the SHIB market remains high. CoinMarketCap’s Community Sentiment data reveals that a majority of the meme coin investors were optimistic about SHIB’s ascent. As seen in the chart, 86% are bullish about Shiba Inu’s price recording a surge, and only 14% are skeptical.
With crypto investor sentiment on the right track, SHIB could record respite towards mid-month.
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