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Shiba Inu Surpasses Dogecoin & Polkadot, Aims XRP Next, Yet Bitcoin May Not Be Worried

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The most popular cryptos in the top 5 are extremely in danger as the most erupting meme coin is about to slice them through. The silent trend of Bitcoin, Ethereum, XRP and Cardano may cost them to move out of the top 5 spot very soon. As Shiba INU price appears unstoppable and ranging with an intention to kill yet another zero in the near future. And hence if the dominant cryptos want to restore their power, they need to wake up now. 

Bitcoin Price May Regain Bullish Momentum Soon

The primitive asset dropped with a notable margin sliding below $60,000 in the past trading day registering loss of more than 6%. Not only the BTC price but the entire crypto space plunged with a huge margin. As the market sentiments were flowing through the meme coins specially Shiba INU price. However Bitcoin may regain the lost momentum in order to resume the bull Run very soon. 

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The SOPR metrics has reset back to 1.0, which is an indicator, indicating the profits or loss booked over a specified time frame. If SOPR is more than 1 it specifies profit, less than 1 is loss. And reset at one means the coins moved that day are mostly the selling coins at break even. And hence it signals that the profitable holders are still holding without extracting profit which is a pretty good sign of a bull run. 

Currently, BTC price is consolidating at the crucial levels at the resistance flipped to support levels at $ 58,258. In the short time frame, the price could undergo a slight consolidation before pulling a next leg up. The upcoming rally could be more intense that could uplift the price close to $70,000 as the phone from SHIB price rally may flow back to Bitcoin very soon. 

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Healthcare Company Adds Shiba Inu to Its Balance Sheet

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A Toronto-based healthcare company now holds Shiba Inu on its balance sheet.

Ask The Doctor, a Canadian online healthcare company, has added $1.5 million worth of Shiba Inu to its balance sheet, according to an announcement posted on its Twitter account.

Kraken facilitated the seven-figure buy. As reported by U.Today, Shiba Inu started trading on the San Francisco-based cryptocurrency exchange on Tuesday.

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The medical information website will also begin accepting the meme cryptocurrency with its healthcare partners within the next three days.

It already allows clients to pay with Dogecoin for certain services in the U.S. and Canada.   

The Toronto-based company was launched in 2010, allowing its clients to connect with medical professionals via text messages or video streaming. Notably, its list of co-founders includes former NBA player Israel Idonije and former NBA star Dikembe Mutombo.

In 2016, Ask The Doctor started accepting Bitcoin payments, becoming the first healthcare company around the globe to embrace crypto.

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The reason for adding the new payment option was to offer customers who share sensitive medical data more privacy.

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Shiba Inu Coming to Brazil’s Largest Crypto Exchange

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BBrazil’s Mercado Bitcoin is set to add support for Shiba Inu on the first day of December.

Mercado Bitcoin, the largest cryptocurrency exchange in Brazil, has announced that Shiba Inu will become available for trading starting from Dec. 1.

The token is yet to be added to the trading platform at the time of writing.

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The announcement was accompanied by a video of a Shiba Inu dog in military gear.

After listing SHIB, Mercado Bitcoin will also add support for Cosmos (ATOM), Polkadot (DOT) and Loopring (LRC) later this week.

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 2TM, the parent company of the number one exchange in Latin America, raised another $50.3 million in late November. This occurred just months after raking in $200 million in July during a Series B investment round spearheaded by Japanese conglomerate SoftBank.

Last month, Korbit became the first cryptocurrency exchange to list Shiba Inu in South Korea.

Kraken, one of the world’s top exchanges, also added support for the top token earlier this week.

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New Shiba Whale Buys $38 Million Worth of Tokens

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Another whale appears on Shiba Network after token drops from local high and consolidates

New Shiba Inu whale appears on the network after purchasing $38 million worth of tokens. The whale newcomer has bought 850 billion tokens while it was losing 5% of its previously gained value.

The transaction was made 15 hours ago, while the token had just begun its correction and was trading at $0.000048. Such strong buying power, unfortunately, could not push SHIB further up and fuel the local uptrend.

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With more whales entering the market, Shib’s fundamental background is continuously developing while the price on the market seems to struggle to break through the $0.000046 area.

Other whales also remain in the Shiba Inu sea by holding more than $2.3 billion worth of tokens while previously owning only about $1.8 billion. The change in the trend appeared shortly after the global cryptocurrency market correction.

Transaction Data
Source: WhaleStats

Most whales have entered Shib with a large discount of 15% compared to the previous trading range. Whales have also become an absolute majority on the chain by buying up 72% of the circulating supply, which puts Shiba mostly in the hands of large wallets.

At press time, Shiba is trading at $0.000046 with 3% of the daily loss. Additionally, the token is losing 15% from its previous high of $0.000054. The token failed to continue its rally and is trading at the local support, while on-chain data suggest a rapid drop of trading volume, which indicates that traders have not yet decided the future direction of the asset’s price.

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