Another whale purchase of SHIB tokens worth 1.13 billion – are we waiting for a bullrun? – Cryptomagazine

It seems like a project Shiba Inu still arouses the interest of big players. The whale purchased SHIB tokens worth $ 1.13 billion. Meanwhile, a petition asking for a dog cryptocurrency on RobinHood has climbed above the border 518,000 signatures.

Also read: Shiba Inu has more followers on Twitter than ETH – will another price boom come?

Whales buy SHIB again

According to the portal Etherscan another interesting token transaction was intercepted on November 7 Shiba Inu. The whale bought this time 20 trillion tokens worth more than 1.13 billion US dollars. The purchase was made on the increasingly popular Crypto.com stock exchange.

However, the question remains whether such a purchase can affect the market price. At the time of writing, the SHIB token was trading for 0.00005660 USD. The CoinMarketCap portal currently features 24 hour decrease by 3.09%.

In any case, the SHIB token can currently only rely on community action. The laws of no fundamentals or technical analysis do not apply here. Therefore, we can consider this billion-dollar purchase as a very positive factor in the long-term development of this memo coin. Of course, care must be taken, because such transactions can manipulate the market very significantly.

You might be interested in: Elon Musk Considers Selling $ 25 Billion in Tesla Shares – Is It Investing Again in BTC?

Do you want to buy / sell cryptocurrencies quickly and not pay huge sums for this service? In that case, find a certified exchange office that won’t rob you of hidden fees. We definitely recommend Binance Stock Exchangewhere you will find a wide selection of cryptocurrencies. Create an account via >>>this link<<< and you will get a lifetime discount on business fees.

Huge centralization

As has been mentioned several times, a token Shiba Inu is a highly centralizedwhich can be a big problem. Up to 66% of the total offer is concentrated in 10 whale wallets. So big players can manipulate the price, and so on, without much problems harm retail traders in particular.

Regardless of this negative factor, the community is going its own way. The petition is a huge success and has already reached more than 518,000 signatures. Well company RobinHood still silent.