Legendary stockbroker Jim Cramer participated in a television interview last week. Cramer warned investors. He told investors that they should not invest in cryptocurrencies, especially SHIB and DOGE. Interesting developments in whale movements followed. Whale data tracker WhaleStats shared that the largest Ethereum whales have bought large sums of Shiba Inu.
Whales bought large quantities of SHIB
In the SHIB price action, a large green candle appeared on Sunday. Thus, the 4-hour MA tried to break beyond 200. The second largest meme coin asset still has the potential to continue its upward move. This rise came after whales bought large quantities of Shiba Inu. Over the weekend, whales continued to increase their Shiba Inu stocks, as WhaleStats recently reported.
Accordingly, whales added $8 million worth of SHIB to their wallets last weekend alone. $8 million equates to over 643 billion SHIBs according to weekend price data. The top 500 Ethereum whales closed last week with a savings of just over $147 million in Shiba Inu. Now, they hold $155,359,382 in memecoin.
Bought huge amount of Shiba Inu in anonymous wallets
On Friday and Saturday, large volumes of SHIB purchases were also made in anonymous wallets. A mysterious whale has added 114.9 billion Shiba Inu tokens to its wallet. After that he sent it to sell on Binance. This sending process happened along with three other major SHIB transactions by different whales. On Saturday, whales added a total of 281 billion SHIB to their portfolios.
The purchases came after the famous stockbroker’s statements
Legendary stockbroker Jim Cramer hosted CNBC’s Mad Money last week. Cramer said that investors should avoid investing their money in cryptocurrencies. He even stated that they should not “especially” buy from “meme coins like SHIB and DOGE”. Cramer isn’t the only famous financial expert to think so. Among those who believe in this is the famous influencer David Gokhshtein. Gokhstein often advises his followers to stay away from entities like DOGE.
Cramer’s comments came after Fed Chairman Jerome Powell said the Federal Reserve would maintain its hawkish stance. cryptocoin.com As we have reported, the FED Chairman also stated that he would continue his tight monetary policy. Cramer recalled that Powell suggested that we “stop doing stupid things with our money.” In addition, Powell noted that the moves needed to curb inflation could cause “some pain” on US businesses and households. According to Cramer, investors should stay away from risk assets due to the Fed’s hawkish stance.
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