Thursday 10 November 2022 ▪ 2:00 pm ▪
4
min read – with
At the moment, the Shiba Inu is not doing very well: an extra zero is indeed added to its price. CoinGecko values SHIB coin at 0.000 009 79, down 4.2% over 24 hours and 82.3% over one year. In the eyes of ETH SHIB-loving whales, this downtrend is an opportunity to buy 1 billion coins. say that this is a whale which has not transacted for several months.
1 billion SHIB in Ethereum whale wallet
It has been more than 100 days since this ETH whale has not traded on FTX US. On July 12, it guzzled 9.90 million SHIB, according to data posted on Etherscan.io. On Tuesday, November 8, the giant abandons his cozy bed to be filled with SHIB through the same platform. A total of 1,002,395,000,000 Shiba Inu were transferred to their crypto wallet, or $10.91 million.
If we add up the assets purchased by this Ethereum whale, he has accumulated 1,002,404,900,000 SHIB in his wallet. From then on, she reached the status of 80e biggest owner of Shiba Inu.
Note that the total assets of the first 5,000 ETH whales is $92.74 million. Buying SHIBs in large quantities is their favorite pastime.
Shibarium, will come will not come?
The ShibArmy has long awaited the arrival of Shibarium, the Shiba Inu layer scaling solution. At the moment, no official information has been published about it. However, as a result of the recent technical developments implemented by Shiba Inu developers, together with the documents that had just been presented by Shytoshi Kusama, it was clear that Shibarium is not far away.
At the same time, it should be noted that the SHIB is currently in the red. As we said, an additional zero was granted for this token in a short time. Unfortunately, enthusiasts hoping for a 1-cent SHIB will have to wait again.
U°Today found that this downward trend would come especially from a 95% drop in SHIB’s burn rate and the bear market. There is a strong correlation between the two since “ the amount of burn is highly dependent on the general cryptocurrency market activity “.
The bear market has wreaked havoc on crypto projects: it didn’t cost bitcoins, ethereum or the Shiba Inu. In September, CZ already informed us that there was a 4-year cycle for the cryptocurrency market. Preparation for the aftermath of the bear market is essential.
Get a summary of the news in the world of cryptocurrencies by subscribing to our new service daily and weekly so you don’t miss any of the essential Cointribune!
The blockchain and crypto revolution is underway! And the day the effects are felt on the most fragile economy in this world, against all hope, I will say that I was involved.
