March proved to be a tumultuous month for the cryptocurrency ecosystem. With volatility written all over the market, several assets benefitted from the asset’s highs and lows. Amidst this, the social volume and presence of these cryptocurrencies also followed suit. As the month comes Lunar Crush shared a chart that showed the social emergence of Bitcoin [BTC], Ethereum [ETH], and others while meme coins like Shiba Inu [SHIB] lagged.
As seen in the above chart, Bitcoin led the rest of the assets as the king coin surged to a high of $29,159 this month. Ethereum’s Shapella upgrade allowed the asset to land a second place on the list. Surprisingly, Chainlink [LINK] took over third place. The intensified development and whale activity put the crypto asset on the map.
Meme coins Dogecoin [DOGE] and Shiba Inu took a backseat. Despite its recent endorsement from Burger King, Dogecoin failed to make it to the top five. Shiba Inu, on the other hand, encountered a major upgrade this month. The much-awaited Shibarium beta version was finally launched in March. Sadly, it created an unfavorable buzz around the SHIB ecosystem which didn’t seem to benefit the asset. However, “SHIB” landed a spot among the top five most-used crypto hashtags in the market throughout March.
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So how has March been for Shiba Inu?
Despite several developments in its network, the price of the asset dipped like its social volume. Over the last month, SHIB dipped by over 11%. Shiba Inu’s monthly high was at $0.00001242 and its low was $0.000009728.
At press time, the asset was trading for $0.00001058 with a 0.26% daily drop. Nevertheless, whales in the market seemed to be quite interested in the meme coin. According to WhaleStats, an ETH whale that goes by “BlueWhale0073” went on to purchase 99,297,904,247 SHIB tokens for $1.05 million.
Additionally, Shiba Inu seemed quite popular among ETH whales.
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