As the bear season continues in cryptocurrencies, big investors continue their purchases. largest known Ethereum (ETH) whale made another purchase. ETH whale, worth $7 million total Shiba Inu (SHIB) added the token to his wallet.
The #1 Ethereum whale continues to buy as the market drops. In its last purchase, Whale added 536 billion Shiba Inu tokens to its wallet. Whale made 14 transfers in this process. The crypto giant made its purchases through Binance and Coinbase exchanges.
Not long after its $7 million purchase, the ETH whale sold back some SHIB tokens. The value of the SHIB tokens sold by the whale is around $250,000.
When Will the Expected Rise in SHIB Come?
Many whales continue to increase the amount of SHIB they already hold. However, the rise expected by whales and small investors never materialized.
Launched as a competitor to Dogecoin (DOGE) and with a strong community behind it, SHIB has seen a massive 1100% rise from the beginning of October to the end of last year. Dog-themed after $0.00008850 peak cryptocurrencyhas lost 86% since the peak.
The new upward expectation of investors is that with the completion of Shibarium, which is still in the testing phase, SHIB will have its own blockchain network.
However, due to both the bear season in crypto and the macroeconomic conditions around the world, most analysts do not expect a big rise in the short term.
$SHIBAs of writing, it is trading at $0.00001217.
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