Kishu Inu (KISHU) price has jumped 8% today: why is it rallying?

Kishu Inu (KISHU) price has jumped 8% today: why is it rallying?

By Charles Thuo - min read
Kishu Inu Dog

Kishu Inu has surged by over 8% in the last 24 hours and managed to return to the top 10 list of tokens purchased by ETH whale wallets.

At the time of writing, KISHU was trading at $0.000000001585. It has hit a daily high of $ $0.000000001591.

What is Kishu Inu?

Before we look into the reasons behind the current price surge, let’s first explain what it is.

In a nutshell, Kishu Inu is a dog-based meme cryptocurrency inspired by Dogecoin. Instead of using Shiba Inu like Dogecoin and Shiba Inu coins, this crypto chose to use the ‘Kishu’ dog breed as its mascot for its brand.

KISHU is the native token of the Kishu Inu meme-coin project.

Why is the price of KISHU rising?

There are several reasons behind the current price rally.  The main reasons are increased purchase of the coin by Ethereum whales, Shiba Inu trending on Binance, and the upcoming Kishu Inu NFT collection.

KISHU purchase by ETH Whales

One of the reasons attributed to the current bullish momentum of the coin is the sudden increase in the number of ETH whales accumulating the KISHU coin. It is currently in the top ten of the most purchased coins by ETH whales and as a result, its trading volume surged by over 200%.

According to the Whalestats, KISHU is fourth among the most bought coins by  ETH whale wallets.

‘’The top 1,000 Ethereum wallets are worth an average of $150.39 million and have an average of 40,404 ETH, 39 tokens, and 1 NFT.’’

Ethereum is leading followed closely by USDC token in the list.  NuCypher (NU), on the other hand, is the most traded token by the biggest ETH Whales.

Meanwhile, Shiba Inu is the leading meme coin among many ETH Whales holders. According to Whalestats, the largest ETH Whale holds more than $1.27 billion SHIB tokens.

Adoption of a meme coin by Whales is a sign of better days for the meme-crypto community.

Kishu Inu trending on Binance

Another reason for the current bullish momentum is their recent announcement that the coin is trending on Binance after obtaining the fourth spot.

Kishu Inu NFT tralier

Besides, KISHU had also dropped a trailer of its KISHUVERSE NFT earlier on that excited the community.