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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Shiba Inu Remains In Red Despite Whales SHIB Buying Spree

Samuel Edyme
Samuel Edyme
1 year ago
3 mins read
Ethereum Whale

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Undoubtedly, bearish times are known as the time to bag potential assets, and according to the latest data, Shiba Inu (SHIB) whales are doing just that. However, interestingly SHIB has shown no reaction to the whale’s buying spree.

Over the past 24 hours, Shiba Inu hasn’t made any significant move aside from a continuous downward trend. SHIB is currently down by nearly 6%, alongside the rest of the crypto market. Its trading volume has increased, indicating ongoing selling pressure.

Related Reading

Shiba Inu Whale Buys 3.48 Trillion Tokens, What's Ahead For The Price Action

Bullish: Shiba Inu Whale Buys 3.48 Trillion SHIB

1 year ago

Whales Buying Frenzy On Shiba Inu (SHIB)

In less than an hour, SHIB whales have purchased nearly 30 billion tokens altogether, according to data from Etherscan. The first large investor in the last hour purchased 4.4 billion tokens from Binance, followed by another investor who purchased 19.9 billion SHIB from Coinbase.

Additionally, another investor purchased 48.6 million tokens from Binance. Other large transactions recorded include a transfer of 1.6 billion SHIB tokens, 2 billion tokens, and 13.5 billion transfers between unknown wallets.

Notably, this is not the first whale report this week, 3 days ago, a Shiba Inu whale purchased 3.48 trillion SHIB becoming the 29th biggest Shiba Inu holder. The purchase showcased the growing interest of crypto whales on SHIB after the Shibarium Beta Testnet, Puppynet launch.

The top 100 Ethereum whales have amassed over $601.2 million worth of SHIB, comprising almost 12% of their combined portfolio. On average, each wallet holds 496,214,650,935 SHIB, with a value slightly exceeding $6 million.

Related Reading

Shiba Inu

Shiba Inu (SHIB) Price Momentum Screeches To A Halt: What’s The Outlook?

2 years ago

Reason Behind SHIB’s Decline Amid Buying Spree?

Despite the buying spree, SHIB has been experiencing a price decline. At the time of writing, SHIB is trading at $0.00001055, down by 5.2% in the last 24 hours. 

Shiba Inu (SHIB) price chart on TradingView
Shiba Inu (SHIB) price is moving sideways on the 4-hour chart. Source: SHIB/USDT on TradingView.com

One possible explanation for this latest bearish trend could be the crypto market’s performance, which has affected many altcoins. Bitcoin, the leading cryptocurrency has been experiencing a significant price decline, which has had a ripple effect on the entire market.

Another possible factor could be the oversupply of SHIB tokens. Moreover, SHIB has been mirroring other large assets in the past weeks, which may have contributed to the initial price surge. Still, it is common for crypto assets to experience a price correction after a quick spike in their value. 

Additionally, investors who bought SHIB during the initial hype may have sold their tokens to make a profit, resulting in a price decline. Meanwhile, over the past 3 days, nearly $500 million has been removed from SHIB’s market cap resulting in a further decline in the asset’s market cap valuation.

On the other hand, SHIB’s daily trading volume has moved from a low of $196 million in the past 7 days to $284 million in the past 24 hours, indicating possible selling pressure.

Featured image from Unsplash, Chart from TradingView

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Samuel Edyme
Samuel Edyme

Samuel Edyme

Meet Samuel Edyme, Nickname - HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others.

Read more

Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis.

Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events—like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ’s arrest—has honed his keen sense of market dynamics.

When he isn’t crafting engaging crypto content, you’ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he’s catching some Z’s or scrolling through Elon Musk’s very own X platform—(oops, another screen activity, my bad…)

Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters—(don’t judge, that’s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or “kaizen,” striving to be 1% better every day. His mantras, “God knows best” and “Everything is still on track,” reflect his resilient outlook and how he lives his life.

In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He’s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck—unflappable. Edyme is like trading in your car for a jet—bold. He’s the guy who’d ask his boss for a pay cut just to prove a point—(uhhh…). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent—okay, maybe that’s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps.

Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That’s just not the way he roll. He has these favorite lyrics from NF’s “Clouds” that resonate deeply with him: “What you think's probably unfeasible, I've done already a hundredfold.”

PS—Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He’s 100% Him-alayan. Screw it, he ate the opp.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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