The cryptocurrency Shiba Inu (SHIB) continues to fall in price. However, it is striking that even so large whales, brands and corporations that are experts in economics and making money, are buying this currency.
In this regard, Sergio Turi, CEO of Investments in the world, said:
“Shiba Inu is currently having a small setback, logical for the strong upward trend that it had been having. The price seems to be piling up, which means it could get a new take off soon. If the pattern you are generating today is executed correctly, the price could go up an extra 100% before the end of the year”.
As they say, the small fish flee, while the whales get ready to take positions.
Some whales are buying SHIB
Taking advantage of the SHIB immersion, as an opportunity. Some whales have purchased a significant amount of SHIB. Even when the market doesn’t seem to be turning bullish, whales have confidently invested in SHIB tokens.
Many of the experts in the crypto industry believe that the SHIB meme coin is not a good investment. Some of them even call these tokens “shitcoins”. But, it seems that the market is not listening to these suggestions and more people are buying and saving SHIB on their wallets.
Specifically, an unknown person invested approximately $36.8 million, in the purchase of more than 850,000 million units of Shiba Inu. The transaction was completed on November 22.
Also, on November 17, WhaleStats registered a large investment in Shiba Inu. An investor bought 171 billion tokens for a total value of $8.3 million.
In fact, ten days earlier, an unknown crypto investor acquired Shiba Inu units worth nearly $1.15 billion.
“Do whales know something that investors don’t?”
Currently, online software retail giant Newegg confirmed on Twitter that it would accept Shiba Inu (SHIB) as a payment option.
Supermarket worker becomes billionaire
As a curious fact, a worker invested around $8 thousand in the Shiba Inu cryptocurrency. According to Fortune, the risky gamble turned this family man into a millionaire in less than a year.
“I come from a rather poor background. Not in my dreams did I imagine having so much money”.
Shiba Inu performance
Shiba Inu lost 16% of its value at the peak. But then soon after, it rallied with a 10% daily loss.
After the liquidation, Shiba Inu earned about 30% in one day. But then it fell back to a 15% daily profit.
By the way, some whales buy a significant amount of SHIB, but the market does not seem to react in any way. The volatility of the SHIB token remains low.
Finally, according to CoinMarketCap, the price of Shiba Inu is trading at $0.00003802. Which means that it lost more than 50% of its value, compared to the all-time high recorded on October 28, when it reached $0.000087.
I close with this phrase by Jean Baptiste Say: “As fear is the greatest torture of tyrants, the most irredeemable crime in their eyes, is to make them feel fear.”