BabyDoge has surpassed Shiba Inu in the number of holders after almost a 100% price spike on the market
According to some reports, BabyDoge, one of the first and biggest competitors of Shiba Inu, has surpassed this copy of the meme coin in terms of holders after increasing its price by almost 100% in the market.
BABYDOGE/USDT 4-hour chart | Source: TradingView
The community hopes to see BabyDoge following in Shiba Inu’s pawprints
According to WhaleStats, the number of BabyDoge holders has reached a local peak of 1.12 million holders, while the number of SHIB holders remains at 1.1 million investors.
The number of holders is an effective metric that allows traders to determine whether an asset is growing fundamentally. Members from both the Shiba Inu and Baby Doge communities suggest that the strong growth of both coins is based on the asset’s low price and the potential for massive increases in each rally.
Shiba Inu managed to amass a large portion of its existing supporter base during the incredible 1,000% rally in October 2021. The spike in holders on BabyDoge came about. in the most recent 100% injection that took place on the market on January 2nd.
The sudden surge in the asset’s price was followed by a rapid increase in volume a day earlier, during the transition period between 2021 and 2022.
Currently, whales are holding more than 45 trillion BabyDoge, which is a relatively low number compared to the holdings in smaller wallets. Compared to the Shiba Inu, BabyDoge follows its predecessor’s footsteps as smaller wallets fuel the rally while whales arrive to the party later.
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