A mysterious and unidentified Shiba Inu whale has purchased a staggering $4.2 million worth of 125 billion SHIB tokens. The whale made good use of the recent bottom and loaded a bag of SHIB tokens at a discounted price.
The SHIB whale known as “Light” is on the list of 1000 richest ETH whales in ERC-20 tokens. The whale named ‘Light’ is ranked #2 on WhaleStats and is known as a dominant force in the crypto space.
Wealthy investors continue to make big purchases, and several questions arise as to why whales are entering SHIB; Do they know something that an ordinary investor doesn’t? Whales have insider information about an upcoming listing? The movements of these giant investors are difficult to decipher, as the crypto market is unregulated and their identities are unknown.
Watcher.Guru massive transaction with a link including transaction details “An Ethereum whale bought $4.2M worth of SHIB today” he shared.
Moment #Ethereum whale purchased $4.2M worth of $SHIB today. 🐳
TXID: https://t.co/tQbtySbSs2
— Watcher.Guru (@WatcherGuru) December 13, 2021
Whales have started taking entry positions on the Shiba Inu since the last week of July and the trend has not stopped yet. Almost every day, there are news on news sites that a new whale buying SHIB has steadily increased its trading volume. Whales have chosen SHIB even at all-time highs and lows, and they trust the token no matter its price.
The crypto market has now crashed and Bitcoin has dragged down all other tokens along with it. Analysts predict that metaverse and meme tokens could dominate the crypto charts in the next bull run. For over a month now, cryptos and meme tokens associated with the metaverse remain the top earners in the crypto market.
Shiba Inu Price Forecast
The Shiba Inu performed exceptionally well, rising over 900 percent in October 2021 to reach an all-time high of $0.00008616. However, SHIB has been unable to maintain its momentum since then, losing 60.7 percent of its ATH. The token is showing mixed signals but remains a dominant force in the market despite the recent drop.
Analysts believe that gaming partnerships with Activision and Playside Games will put SHIB in a better position in 2022. It is speculated that even the upcoming ShibaNet will change the expectations of the token and push it on better paths in the coming months.
2022 could be a turning point for SHIB and according to analysts, long-term investors will be able to reap the benefits of the meme coin and reap the rewards. The Shiba Inu is trading sideways in 24-hour trading and is trading at $0.000033, down nearly 1%, according to data from CoinGecko.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.