Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
While the correction on the cryptocurrency market continues and some whales are leaving their positions behind by entering stablecoins, this whale does not seem to be bothered by a 50% correction on Shib and is buying $36 million worth of tokens.
Previously, Shiba Inu whales dropped more than 4% of their total holdings and decided to move their funds to Tether. As for this whale, he or she purchased SHIB either via an OTC deal or a private transaction of $36 million.
Alex DovbnyaThe transaction's value in Shib is 850 billion tokens. Unfortunately for token holders, Shiba's price actions do not seem to follow whales since it is currently losing 1.2% of its value.
Previously, Shiba Inu managed to spike up by 23%, but then it rapidly lost all of its gains in a few days. The total loss from the top is 50% in total. In comparison to similar meme-tokens, Shib does seem to follow the general pattern: Floki cryptocurrency lost 59% of its value and Dogecoin lost 35% from the most recent local top.
At press time, Shiba Inu is trading at $0.000043, which is considered a support zone since the token already reached it back on Nov. 19 and successfully tested it by bouncing back by more than 20%.
Alex Dovbnya
Dan Burgin
Vladislav Sopov