The overall performance of the encryption market is not impressive, including memecoins like SHIB. In the past few weeks, the price of almost all encryption assets has declined. But then, just when the market seemed to witness high volatility, the story changed.

Under the strong influence of short positions, the value of digital assets flows to the south. In addition, the recent collapse of FTX, one of the most famous crypto exchanges in Shanghai, has exacerbated adverse changes in this field.

With the trend of the market, the leading memecoins showed their strength in their sports. Although the whole market suffered losses, memecoins performed better than most cryptotokens.

In the past week, Dogecoin (DOGE) rose by nearly 14%. As far as it is concerned, the Shibuya (SHIB) has had a huge upward momentum. If tokens can make more positive progress in the coming weeks, this new power of SHIB is attracting people's attention.

Will SHIB's price rise soon?

Although the market trend is generally bearish and there are other negative factors, SHIB's performance is impressive. Throughout the recession, some top whales have a large number of SHIBs.

According to the data from the whaling industry, Shibuya has recorded as many as 500 ether whales, which have a SHIB worth more than 76 billion dollars. In addition, it reported that the SHIB shareholding of the top 100 whales on the Ethereum chain had not changed significantly in the past two weeks.

With Elon Musk taking over Twitter, Chaigou has gained more value. This makes the value of SHIB soar, leading to the coin becoming the new ATH in October 2022. After Musk's acquisition, Chaigou is competing favorably with Dogecoin. Therefore, a debate broke out on the Internet about which memecoin between SHIB and Duoji would reach $1 first.

SHIB is one of the most secure encrypted coins?

With the collapse of FTX and the subsequent tortuous events, the secret space has been faced with more and more fears and doubts. Therefore, investors now hope to have safe investment options in the encryption market to protect their funds.

A report by Santiment Insights emphasized that Chaigou is one of the safest investment varieties in the current encryption market.

On the Internet, data shows that about 1.8 trillion SHIB coins were transferred to several exchanges earlier this week. In addition, after the collapse of the FTX Crypto Exchange, there was a similar behavior of transferring Chaigou from the giant whale.

According to Santimon America, Chaigou and Uniswap have always been among the asset classes with the lowest procurement risk. However, according to the calculation of market value and realized market value (MVRV), they are at the bottom of the top 10 tokens.