This Meme Coin’s Sharp Fall Has Lead to a Notable Whale Trade

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Spherical cryptocurrency market after sales, shiba inu whales don’t leave their favorite meme tokens behind and take action to buy more – like this whale that bought 171 billion tokens.

Two big transactions

The two major transactions in question emerged on the blockchain when the whale first purchased $6 million worth of SHIB tokens. The token was trading around $0.000049 after a major correction in the cryptocurrency market overall.

Eleven hours after the first order was fulfilled, the whale decided to purchase a smaller amount of Shiba Inu tokens and received another $2.3 million worth of tokens when Shib fell to $0.0000048.

Whales still believe in Shiba even after a 40% retracement.

The more whales the better?

With increasing control of whales, market participants expect the trend to reverse. After the Shib reached its previous ATH, the whales’ share of the net decreased slightly, resulting in a massive 45% correction in less than a week.

With the increasing number of whales in the market, retail traders will no longer make up the majority of the market and whales – unlike smaller traders – tend to hold their positions until new highs hit.

The latest on the Shiba Inu

At press time, SHIB is trading at new local low of $0.000479 after losing. Based on trading volumes, retail traders are now almost 98% less interested in speculating with the Shiba Inu token.

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.


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