Crypto.com Shows Trust in Shiba Inu (SHIB) as Holders Set SHIB Price Prediction

As the crypto turmoil continues and the most popular crypto exchanges reveal their reserve holdings in order to calm down worried customers, more surprises are unveiled. According to the findings, Crypto.com holds as much as 19.85% of its reserve in the popular memecoin Shiba Inu (SHIB).

Moreover, SHIB only comes second to the leading cryptocurrency Bitcoin (BTC), which takes up 31.19% of Crypto.com’s reserves. If combined, SHIB and BTC cover the majority of Crypto.com’s stash – approximately 51%.

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JUST IN: #CryptoCom CEO and founder @kris just released their "Proof of Reserve". The scary party... they hold more $SHIB than $ETH. pic.twitter.com/XmMOxFzkYR

— Mr. Whale whalechart.org (@WhaleChart) November 11, 2022

h2 Crypto.com Holds A Whopping $570M In SHIB/h2

Indeed, the numbers may be unanticipated for many crypto investors. However, Kris Marszalek, the CEO of Crypto.com, has a clear explanation. According to him, Crypto.com backs everything their customers buy 1:1, therefore, both memecoins SHIB and Dogecoin (DOGE) play a significant role in the company’s vault.

The canine memecoins were highly favored by customers in 2021 and the simplest way to prove this are their relatively high spots on the crypto charts by total market capitalization. At press time, the top dog memecoins SHIB and DOGE occupy the #14 and #8 positions, respectively.

h2 On the Flipside/h2

• Crypto.com’s own token, Cronos (CRO) is declining at a worrying rate. The #31 ranked CRO went down by 39.3% in the last seven days.
• Many people on Crypto Twitter, including well-known YouTuber Martini Guy, are experiencing withdrawal problems on the popular platform.

h2 Why You Should Care/h2

Due to FTX’s fiasco, other popular crypto exchanges unveiled their reserve funds. The data is crucial to understand the overall exposure to the crash. as well as demonstrating an important level of transparency.

Stay in memecoin action:

Dogecoin (DOGE) Founder Takes A Jab At Shiba Inu (SHIB) On Twitter

Shiba Inu (SHIB) Overthrows Solana (SOL), Then Adds Another Zero

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