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Thursday, 1st December 2022

Shiba Inu Whale Buys the ‘Dip’, Takes Entry Position with $1.1 Million Purchase

By Vinod Dsouza -
  • Updated
  • :
  • 18th October 2021,
  • 1:20 PM

Shiba Inu whales buys 39 Billion SHIB coins worth a staggering $1.1 Million during the price dip.

A large number of whales have taken entry position in Shiba Inu.

A Shiba Inu whale made use of the ‘dip’ yesterday by purchasing 40 Billion SHIB coins worth $1.1 Million and took an entry position in the meme-cryptocurrency.

The whale purchased 39,462,799,009 Shiba Inu coins by paying a staggering $1,122,094. The holder currently has 36,248,774,223 SHIB coin under his/her portfolio which is at present valued at $1,015,789 (1.15 Million).

Whales began taking entry position in Shiba Inu during the last week of July and in August, SHIB wasl isted on eToro. Also, while whales took entry position in SHIB during August, the token saw itself getting listen on WeBull, Coinbase Pro and Binance in September, followed up by Coinbase during the last week of the same month.

Also Read: Women Empowerment Token (WEMP) Rises 2,000% Within Three Days of Its Launch

Just recently, data on Etherscan.io shows that whales have started transferring SHIB tokens to different wallet addresses and the reason for the transfers remains to be a mystery. Only a few whales jumped ship by selling their Shiba Inu holdings and majority of the whales ended up transferring their tokens to Ethereum wallet addresses and to crypto.com.

Shiba Inu shot up +360% during the first week of October 2021 and successfully knocked out a zero from its trade. The coin which was trading with five ‘zeroes’ most of this year, deleted a zero during the spike and is now trading with only four ‘zeroes’ making investors believe that the ‘1 Cent dream’ is not too far away.

SHIB is currently the third most talked about cryptocurrency in the world and is only behind giants Bitcoin (BTC) and Ethereum (ETH). The coin is available for purchase at less than a Cent making it look attractive and appealing to new and first-time investors who believe that when it touches the 1 Cent mark, they could turn millionaires.

Also Read: Memes Flood Twitter After Elon Musk and Grimes’ Semi-Separation

However, financial analysts are divided about SHIB touching the 1 Cent milestone in the near future. While some believe that Shiba Inu will reach 1 Cent by 2026, the others claims that it won’t reach the 1 Cent mark before 2030 due to the market cap indicators.

Shiba Inu at the time of publishing was trading at $0.00002792 and is up +8.17% in the days trade. Experts predict that the coin will shoot up in the coming months as it’s been listed on top exchange platforms and Robinhood is also looking at listing SHIB.

 

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