At the moment, the Shiba Inu is not doing very well: an additional zero is indeed added to its price. CoinGecko values the SHIB coin at 0.000 009 79, down 4.2% over 24 hours and 82.3% over one year. In the eyes of a SHIB-loving ETH whale, this downtrend is an opportunity to buy 1 billion coins. say that this whale has not made any transactions for several months.
1 billion SHIB in the wallet of an Ethereum whale
It has been over 100 days since this ETH whale has not made any trades on FTX US. On July 12, it guzzled 9.90 million SHIB, according to data posted on Etherscan.io. Tuesday, November 8, the giant abandons his cozy bed to fill up of SHIB via the same platform. A total of 1,002,395,000,000 Shiba Inu were transferred to his crypto wallet, or $10.91 million.
If we add up the assets purchased by this Ethereum whale, it has accumulated 1,002,404,900,000 SHIB in its wallet. From then on, she reached the status of 80e largest holder of Shiba Inu.
Note that the total assets of the first 5,000 ETH whales amount to $92.74 million. Buying SHIBs in large quantities has become their favorite pastime.
Shibarium, will come will not come?
The ShibArmy has long awaited the advent of Shibarium, Shiba Inu’s layer scaling solution. For the moment, no official information has been published regarding it. However, the recent technical developments made by the developers of Shiba Inu, coupled with the documentation that Shytoshi Kusama had just presented, suggest that Shibarium is not far away.
At the same time, it should be noted that the SHIB is in the red at the moment. As we said, this token was granted an extra zero in a short time. Unfortunately, enthusiasts hoping for a 1-cent SHIB have to wait once again.
U°Today deduced that this downward trend would come in particular from a 95% drop in the burn rate of SHIB and the bear market. The two are strongly correlated since “ the burn volume is highly dependent on general cryptocurrency market activity “.
The bear market has wreaked havoc on crypto projects: it has not spared bitcoins, ethereum or the Shiba Inu. In September, CZ already informed us of the existence of a 4-year cycle for the cryptocurrency market. Preparation for the aftermath of the bear market is essential.
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