A whale bought 35 billion SHIB as the market crashed. Some whales participate in the “buy low” principle by buying some SHIB. During the market sell-off, short-term traders lowered their positions and most exited the market. Smaller altcoin projects have suffered a greater loss compared to Bitcoin, including Shiba Inu and Doge. Detail cryptocoin.com‘in.
Whales took this altcoin project from the bottom
During the global market correction, Shiba Inu (SHIB) lost 16% of its peak value, but soon rebounded with a 10% daily loss, which correlates with Bitcoin (BTC)’s market performance. After yesterday’s sale, the Shiba Inu (SHIB) gained about 30% in one day, but then fell to 15% daily profit. The token has been moving in a short range since November 26 and has not yet crossed either of its borders. While some whales are buying significant Shibs, the market is not reacting at all. The volatility of the SHIB token remains low, as both buying and selling pressure has eased, according to the volume indicator. Whales are getting more Shibs in recent fixes. Before the cryptocurrency market crashed by more than 10% in one day, the top 1,000 Ethereum wallets entered USDT and other stablecoins on the Ethereum chain, dropping more than 8% of Shib holdings.
Currently, the whale holding has risen to pre-rectification levels with nearly $1 billion in assets remaining in whale-tier wallets at the time of writing. The price of Shiba Inu does not seem to be reacting positively, with the token trading at $0.000038 and growth of 0.72% in one day.
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