Huge Whale Is Buying The Bottoms In This Altcoin Project!

Corrective price movements have been observed in the cryptocurrency market since November 10, with whales outstripping stablecoin positions. According to analyst Arman Shirinyan, this may be due to the Shiba Inu (SHIB), which whales continue to buy despite 50% depreciation. On-chain data reveals $36 million of SHIB purchases during the correction phase. We take a look at whales’ altcoin transactions.

Whales collect altcoins at bottom prices As we reported, whales on the Ethereum network reduced their Shiba Inu investment by more than 4%. Also, some of the whales decide to move their funds to USDT. As for the transactions of a giant whale spotted in the past hours, the giant wallet is reportedly buying SHIB through an OTC deal or a $36 million private transaction. The value of the transaction in Shib is 850 billion tokens. No whale booster effect is observed as the Shiba has now lost 2.79% of its value.

Before the last drop, the Shiba Inu managed to climb 23%, but quickly lost all of its gains within a few days in the Bitcoin-led pullback. The loss stretches to 50% when measured from the peak price of the Shiba. Compared to dog-themed cryptocurrencies, Shib seems to be keeping up with the overall decline. In the process, Floki has lost 59% and Dogecoin is down 35% from the most recent local peak. At the time of writing, the Shiba Inu is trading at $0.000042, which is considered a support zone as it reached on November 19 and successfully tested it by bouncing back more than 20%.

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