Uncategorized

What it Means for SHIBA After a Whale Bought 20 Trillion Coins worth over 1 Billion dollars

This post may contain affiliate links, which means I may receive a small commission, at no cost to you, if you make a purchase through a link.

Various Shiba news sources indicate there was a recent large transaction worth over 1 billion dollars. If confirmed, this could have a huge positive implication for the coin that is in desperate need of such news.

Shiba has been on a decline after news indicated another whale was in the process of selling coins worth over 2 billion dollars. This caused the price to plunge by over 20 % last week. For a coin worth around 30 billion dollars in market valuation, this kind of transaction has a lot of market influence.

The 1 Cent Shiba Dream Remains a Reality

Facts about the transaction

The details of this transaction appeared on Etherscan indicating it was done on the Crypto.com platform. However, the main puzzle in the market is that despite its size, there have been no corresponding market moves.

This has made some analysts deny any such transaction happening as fake while others say it is just a form of market manipulation in the back end.

Manipulation in the Market

The accusation of Shiba price manipulations is not new. The fundamental of SHIB token ownership makes it possible to happen.

Almost 70% of all SHIB tokens are owned by just 10 entities. This is too much concentration for a coin that is supposed to be decentralized. Having 10 individuals with this amount of control exposes the coin to manipulation. A factor that the majority of analysts have always pointed out.

However, there has been no proof of manipulation to date. All the stories remain just suspicions.

Buying SHIBA Inu Coin Now Will Make You Rich In 2 Years.

What the transaction means for the Price of Shiba.

If this transaction is confirmed, it could trigger a new price rally that could see Shiba get back to its highs of last month. Currently, the coin is in a consolidation phase with not much activity happening in the market.

The Ongoing Robinhood Petition

Shiba Investors continue to petition Robinhood to list Shiba on its platform. There is a market sentiment that this action will help trigger another bull run as it happened previously with dogecoin.

The petition already has over half a million people and the list continues to grow. It remains to be seen whether this will be done.

Why Investing in SHIBA INU Will Make You A Millionaire

Future of Shiba Price

There is no single agreement on how far it will get. What most investors agree though is that the coin has already outdone itself by the fact it is one year old. Because it doesn’t follow the normal market rules, we could just be a day from another SHIB price rally. Hence, be ready.

78 Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

Share
Tweet
Share
Pin